Oil prices are set to receive support from rising geopolitical tensions in the Middle East following the US decision to pull out of the Iran nuclear deal. Venezuela’s growing economic and political woes will also buoy prices. In light of the longer-term impact of the US sanctions on Iran and tightening supply-demand balance, GGA has revised its Brent crude price forecast higher and expects the front-month price to average $71/bbl in 2018 and gradually rising to $81/bbl in 2023.
Northeast Asian spot LNG prices are expected...
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