[World’s biggest traders see oil at $65-$100 a barrel next year] NEWS UPDATED BY COMMODITYPROFITPLUS.COM

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The world’s biggest trading houses said on Wednesday they saw oil prices not falling below $65 per barrel and possibly breaking above $100 next year due to U.S. sanctions on Iran.

Oil has rallied this year on expectations the sanctions will test the production ability of the Organization of the Petroleum Exporting Countries and others as Iranian crude exports decline.

© Reuters. A rainbow is seen over a pumpjack during sunset outside Scheibenhard