Oil prices could break below $20 this year as tensions rise between Iran and Saudi Arabia, two of the world’s largest oil players, Again Capital founding partner John Kilduff said Monday.
« I think you’re going to get as low as $18 and maybe get as high as $48. … It’s going to get really ugly, » he told CNBC’s « Squawk Box. » « The Iranians doubled down again, if that’s even possible, by saying that they could put 500,000 more barrels on the market within weeks after the sanctions get lifted. »
Kilduff was referring to the anticipated lifting of sanctions related to Iran’s nuclear program, which have locked the country out of international oil markets…
Read more : CNBC, 04.01.2016
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