Oil Price to Rally Sharply Amid Supply Shortage, Says Expert

Oil Price to Rally Sharply Amid Supply Shortage, Says Expert
An oil facility in the Khark Island, on the shore of the Gulf on Mar. 12, 2017. Atta Kenare/AFP/Getty Images
Emel Akan
Emel Akan
Reporter
|Updated:

WASHINGTON—American sanctions on Iranian oil, despite waivers, will create supply shock in the near term, causing crude oil prices to rally toward the end of the year, says a commodity expert.

Washington imposed sanctions on more than 700 people and entities throughout Iran’s energy sector and its broader economy. To prevent a spike in oil prices, the Trump administration granted waivers to some nations for oil imports from Iran.

Emel Akan
Emel Akan
Reporter
Emel Akan is a senior White House correspondent for The Epoch Times, where she covers the policies of the Trump administration. Previously, she reported on the Biden administration and the first term of President Trump. Before her journalism career, she worked in investment banking at JPMorgan. She holds an MBA from Georgetown University.
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