Mideast Tensions Unlikely to Push Oil to $100

ENI’s CEO Claudio Descalzi stated in an interview with Al Arabiya that he does not believe oil prices will reach $100 by year-end despite tensions in the Middle East. He mentioned that the market currently anticipates a potential bombing of Iranian oil facilities. Last week, oil markets reacted to U.S. President Joe Biden’s remarks about a possible attack on Iran’s oil facilities.

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