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Oil Prices Might Rise To $80 Per Barrel

Summary

Oil prices settled over $75 per bbl.

Iranian issues still influence oil prices.

Oil may rise to $80 per bbl.

Though the world’s leading markets oil prices had previously got their foothold at levels above $75 a barrel for Brent, they’ve started to go down slightly on the back of the OPEC+ warnings of not letting too much oil to be pumped onto the market.

However, there’s a more far-reaching driver bolstering the oil prices, which is that investors apprehend that Iran will probably supply less oil to the market due to the US sanctions. We can expect that as the oil supply might shrink globally, the prices will be headed upward to $80 per barrel for Brent.

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