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The Curse of Black Gold
From a low of $42 a barrel, in early February 2016, the Brent crude measure of oil has risen over 95% to stand at $82 a barrel at the end of September. Given that the US imposed sanctions on Iran which kick in next month and the Venezuelan economy may well be on the verge of collapse – then could we be on the cusp of another oil price shock with $100 a barrel being the near term target?