Trumps Iran Sanctions Could Soon Push Oil Prices Above $90
On Tuesday, the U.S. demanded that all countries halt imports of Iranian crude from early November. The Trump administration’s hardline position comes as part of a broader push to try to further isolate Tehran both politically and economically.
“We are moving into an environment where supply disruptions are visible all over the world… and of course President Trump has been pretty active in trying to isolate Iran and getting U.S. allies not to purchase oil from Iran,” he added.
“We are in a very attractive oil price environment and our house view is that oil will hit $90 by the end of the second quarter of next year,” Hootan Yazhari, head of frontier markets equity research at Bank of America Merrill Lynch, said.