• 29 June 2018 - 14:48
  • News Code: 87699
نفت

President Donald Trump’s sustained bid to disrupt Iran’s petroleum exports could soon help to push oil prices above $90 a barrel, analysts in Bank of America Merrill Lynch, said.

Crude futures were seen hovering close to multi-year highs during early afternoon deals, after a bigger-than-expected drop in U.S. stockpiles added to a rally fueled by a major Canadian supply outage, concerns about Libya’s exports and efforts by the Trump administration to cut off funds from Iran.

“We are in a very attractive oil price environment and our house view is that oil will hit $90 by the end of the second quarter of next year,” Hootan Yazhari, head of frontier markets equity research at Bank of America Merrill Lynch, said to CNBC.

“We are moving into an environment where supply disruptions are visible all over the world… and of course President Trump has been pretty active in trying to isolate Iran and getting U.S. allies not to purchase oil from Iran,” he added.

On Tuesday, the U.S. demanded that all countries halt imports of Iranian crude from early November. The Trump administration’s hardline position comes as part of a broader push to try to further isolate Tehran both politically and economically.

Nonetheless, most major importers of Iranian crude have balked at Washington’s almost unilateral policy towards Iran.

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