Singapore — Crude oil prices could surpass $100/b as the global oil market does not have an adequate supply response for about 2 million b/d of oil disappearing from the market, Daniel Jaeggi, co-founder of Mercuria, said Monday.
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"I think we may well be on the verge of some very significant volatility here in Q4 2018 because, depending on the severity and the duration of the Iranian sanctions, the market simply does not have an adequate supply response for 2 million b/d of oil disappearing from the market. It is conceivable to see oil north of $100 a barrel," Jaeggi told the S&P Global Platts Asia Pacific Petroleum Conference in Singapore.
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