Oil Could Stay Above $100 for Years, Analysts Warn

Oil prices opened trade this week with a decline on reports that a deal between the U. S. and Iran was imminent. Brent crude slipped below $100 for the first time in days. But then President Trump said there was no rush on a deal and the U. S blockade in Hormuz would remain.

While traders scratch their heads, analysts are warning that crude could remain well above $100 per barrel for years. This is literally uncharted territory for oil. Negotiations with Iran were “proceeding in an orderly and constructive manner,” the U. S.