US sanctions on Iran oil exports will begin on Nov. 4. Analysts say with Iran's sizeable drop in export volumes, and OPEC's reluctance to raise output, it will be difficult to fill the supply gap. WTI Crude is $72.50; Brent is $82.01 this morning.
Almost 2 million barrels per day (bpd) of crude could be taken out of the market as a result of sanctions against Iran by the end of 2018, say some traders, making a crude price spike to $100 a barrel possible. WTI Crude is $71.98; Brent is $80.72 this morning.
The US shale industry seems to have reached a turning point with the recent significant improvement in its financial sustainability. WTI Crude is $70.87; Brent is $79.57 this morning.
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