$100 oil? Unlikely, according to Stratas Advisors. Here’s why the firm is predicting a more moderate increase in oil prices during the third quarter in its latest forecast.
The new futures contract, labeled HOU, is launched in response to market interest in a Houston-based index.
If and when the administration of U.S. President Joe Biden and the Iranian government agree to a deal that results in the lifting of sanctions, Iran plans to increase output to 3.8 million bbl/d from the current 2.1 million bbl/d, according to oil ministry officials.