Citi Cites Trump and War For Claim That Oil Could Hit $80

Citigroup Inc. claims wildcards including war, Middle East tensions, Donald Trump and Kim Jong Un driving crude toward $80 a barrel.

According to an article in Bloomberg Markets, “After prices were boosted by OPEC’s output curbs in 2017, the U.S. President has shifted the focus to geopolitical risks, with his pursuit of sanctions on Iran and North Korea potentially having significant consequences, the bank said. That’s in addition to political disturbances in some OPEC members like Iraq and Libya that could see crude supplies decline, boosting oil to levels between $70-$80, it said in a Jan. 9 report.”