Rising oil production in the US and slowing oil demand growth in the rest of the world were expected to bring Brent oil prices below $100 a barrel, but supply disruptions in the Middle East and North Africa have kept them from happening. Now that ISIS is holding substantial territory in Iraq, Raymond James analysts have increased their estimates for 2014 and 2015, but they also warn that there is a huge range of possible prices depending on how Mideast conflicts and US politics play out.
“Because of this increased uncertainty regarding Iraqi oil supply, we are raising our 2014 Brent oil price estimates from $102 to $110 and our 2015 Brent estimates from $95 to $110. Likewise, we are...
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