U.S. sanctions on Iranian crude could soon push oil prices above $90 a barrel, one oil analyst told CNBC Monday, amid heightened energy market fears of a looming supply shock.
"As we go more towards (the fourth quarter) … that's when we really see the risk of prices going well into the 80s and potentially even into the 90s but very critical is how much Iranian production we lose," Amrita Sen, chief oil analyst at Energy Aspects, told CNBC's "Squawk Box Europe" on Monday.
Morgan Stanley, for instance, now expects Iranian production to drop to 2.7 million barrels a day by the fourth quarter, with more than 1 million barrels taken offline.
Meanwhile, analysts at Bank of American Merrill Lynch said in a research note published late July that "for every 1 million barrels per day imbalance, we see a price impact on Brent of around $17."
Reference: CNBC
Thai
Eng