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Market Continues To Worry About Iran's Oil Exports Affected, Oil Price Keeps Going Up
May 14, 2018

Investors fear that under Iran's sanctions, crude oil exports may be affected. Oil prices rose in a narrow range on Thursday (10th).

Brent's July oil futures closed at $77.47, up 0.26 or 0.3%, and the day saw a high of $78, the highest since November 2014.

New York’s June oil futures rose by 0.22 US dollars or 0.3%, quoted at 71.36 US dollars.

Bank of America stated that Brent crude oil futures may return to 100 US Dollars per barrel next year as Venezuela’s output continues to be blocked and Iran’s crude oil exports are at risk. The bank also raised the forecast of the average price of Brent crude oil futures this year to 70 US dollars and the estimated increase to 75 US dollars next year.

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