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Posted On: 05/09/2018 6:41:18 PM
Post# of 27279
Trump Iran sanctions just gave Saudi Arabia and Russia more clout in oil market, so watch for higher prices
Saudi Arabia said it will help meet world oil demand if U.S. sanctions on Iran create shortfalls, but analysts say it will only do so in conjunction with Russia.
The result could be higher prices, with oil closer to $80 per barrel than the $60s and $70s expected by analysts.
Oil jumped 3 percent Wednesday.
Saudi Arabia said it will help meet world oil demand if U.S. sanctions on Iran create shortfalls, but analysts say it will only do so in conjunction with Russia.
The result could be higher prices, with oil closer to $80 per barrel than the $60s and $70s expected by analysts.
Oil jumped 3 percent Wednesday.
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