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Oil prices expected to exceed 100 USD after the sanctions on Iran

The Address | Benghazi – Libya

Oil traders are betting heavily that US crude could rise to 100 USD a barrel by next year, an important level that until recently was seen by many as unthinkable given the record growth of US production and the relative stability of global demand.

But the resumption of the US sanctions on Iran and the challenges that prevent US crude from reaching the market fueled a surge that pushed record oil prices to a four-year high, Reuters reported.

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