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Iran sanctions to push oil prices to $95 bpd: Italian daily

Rome, Italy's Wall Street newspaper referred to the US withdrawal from the 2015 Iran nuclear deal and the resumption of sanctions on the country, saying the anti-Iran sanctions could boost oil prices to $ 95 per barrel.

'Iran sanctions will increase oil prices by up to 30 percent in coming months. A significant drop in Iran's oil exports will push Texas and Brent crude oil prices to $85- $95 per barrel, respectively,' the daily wrote.

The price of oil has risen in global markets after the withdrawal of the US from the nuclear deal and the announcement of resumption of sanctions against Iran and is it anticipated that with the return of Washington's oil sanctions against Tehran in November prices will jump.

The Il Sole newspaper also wrote on Wednesday that the Gordon storm in the Gulf of Mexico, the heart of the US oil industry, and doubts about Iran's oil exports in the wake of resumed US sanctions, has so far increased oil prices less than expected in global markets.

Iran's oil exports dropped two months after the announcement of Donald Trump's decision to exit from nuclear deal and there are serious concerns about the likelihood of Libya's oil export decrease following the recent turmoil in that country.

Source: Islamic Republic News Agency - IRNA

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