Oil surged to $130 a barrel at the start of trade on Monday, and now analysts and industry professionals say that prices could soon break above $150 and even soar to $200 a barrel as the U.S. and Europe are considering a ban on Russian oil. A stalemate in the negotiations about an Iranian nuclear deal—the only bearish factor for oil now—is also supporting oil prices at the beginning of this week.
Analysts have already warned that even if Iran returned to exporting its oil soon, the volumes would not be nearly enough…Is $150 Oil Inevitable?
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