Brent Crude at $84 per barrel and might reach $100+ per barrel

China’s top state refiner, Sinopec Corp, halved loading of Iranian crude oil in September.

Brent Crude is at $84 per barrel and could go to $100+ per barrel.

Various analysis indicate that oil prices will not go that high. There is also a lot of analysis and claims that prices will go over $100+ per barrel.

Saudi Arabia should add 550,000 additional barrels per day (bpd) onto the market over the next couple of months.

On November 5, 2018, the US sanctions on Iran will come into full effect. Energy market analysts expect this will cause a reduction of oil availability by 500,000 bpd to 2 million bpd.