Back to $100? Crude oil prices to soar as Iran crisis adds to global supply headache

Back to $100? Crude oil prices to soar as Iran crisis adds to global supply headache

Prices for crude may skyrocket to $100 per barrel as soon as next year as major supply risks in Iran and Venezuela are likely to strain global energy markets, say analysts at Bank of America Merrill Lynch. According to the bank, Brent futures, currently hovering around $77, will reach $90 in the second quarter of 2019 due to the larger cut in world inventories.