Oil May Push Below $80 If Iran Play Ball – Eurasia

Oil prices could go well under $80 a barrel if a deal is struck to rein in Iran’s nuclear ambitions, Eurasia Group President Ian Bremmer predicted Monday.

“This is the do or die year for Iran,” he said on CNBC’s “Squawk Box.”

The price of oil, as he pointed out, is already going down as an extra 500,000 barrels a day of Libyan supply are coming back online after the restart of a key oilfield there.

Last week, oil prices dropped 6.3 percent—its worst week since June 2012. Crude is slightly higher in early Monday trading.


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Mingze Wu

Mingze Wu

Currency Analyst at Market Pulse
Based in Singapore, Mingze Wu focuses on trading strategies and technical and fundamental analysis of major currency pairs. He has extensive trading experience across different asset classes and is well-versed in global market fundamentals. In addition to contributing articles to MarketPulseFX, Mingze centers on forex and macro-economic trends impacting the Asia Pacific region.
Mingze Wu