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As recently as two years ago the world had an oil glut but now market participants are speculating on a price not seen since 2014

Unthinkable just a few years ago, oil could soon hit $100 a barrel.

The reasons are manifold. Looming Iranian sanctions in November, supply problems in the US and less spare capacity from the Organization of Petroleum Exporting Countries (Opec) all have some crude-oil market participants betting that black gold prices may head to $100 – a price unseen since 2014.

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from US news | The Guardian https://ift.tt/2ISTvLF