Gold and Commodities

Oil Could Surge to $185 a Barrel If EU Bans Russian Crude: JPMorgan

Google LogoMark Us Preferred on Google
Oil Could Surge to $185 a Barrel If EU Bans Russian Crude: JPMorgan
Oil barrels are pictured at the site of Canadian group Vermilion Energy in Parentis-en-Born, France, on Oct. 13, 2017. Regis Duvignau/Reuters
Tom Ozimek
Tom Ozimek
Reporter
|Updated:

Analysts at JPMorgan have warned that a full and immediate ban on Russian oil imports into the European Union could drive the price of crude up to $185 per barrel.

Natasha Kaneva, Head of Global Commodities Strategy at JPMorgan, said in a note cited by Bloomberg that if the E.U. decides to expand its limited embargo on Russian oil under a new round of sanctions against Moscow, the price of Brent crude could soar by around 65 percent.
Google LogoMark Us Preferred on Google
Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
twitter
Related Topics