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Economist expects oil prices to rise to $ 100 with sanctions on Iran
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[size=13]LONDON ( Reuters) - Oil prices are expected to rise to $ 100 a barrel after US sanctions on Iran are imposed on May 4, but may come down later and settle at $ 80, an economist predicted . "Expectations of a rise in crude prices to $ 100 as a result of US sanctions on Iran seem reasonable, because the oil market will lose Iran's 1.5 million barrels a day, which is not easy to compensate quickly," said Malath al-Amin, "The high prices of crude will lead to higher prices of other goods, because the plants produced by the basis depends on the energy in its work, and the price of energy will be affected by the rise in the price of crude and as a result will lead to the recession of goods for low turnout.
"We do not know exactly how OPEC will react after the new US sanctions against Iran and whether it will pump large amounts of crude to compensate for Iranian oil, " he said.
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LONDON ( Reuters) - Oil prices are expected to rise to $ 100 a barrel after US sanctions on Iran are imposed on May 4, but may come down later and settle at $ 80, an economist predicted . "Expectations of a rise in crude prices to $ 100 as a result of US sanctions on Iran seem reasonable, because the oil market will lose Iran's 1.5 million barrels a day, which is not easy to compensate quickly," said Malath al-Amin, "The high prices of crude will lead to higher prices of other goods, because the plants produced by the basis depends on the energy in its work, and the price of energy will be affected by the rise in the price of crude and as a result will lead to the recession of goods for low turnout.
"We do not know exactly how OPEC will react after the new US sanctions against Iran and whether it will pump large amounts of crude to compensate for Iranian oil, " he said.
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