Oil at $100 is a possibility next year, Bank of America says

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His comments came as thousands of Iranians took to the streets in the largest demonstration since Trump announced his decision Tuesday.

Europe and Iran sought a common front on Tuesday to save the nuclear deal without the United States, although some diplomats doubted privately it can survive the reimposition of U.S. sanctions ordered by President Donald Trump.

"It's quite possible that surging USA shale production could easily fill the gap left by Iran", Eberhart said.

The White House on Sunday threatened to impose sanctions on European companies that do business with Iran after Trump withdrew the United States from the 2015 accord negotiated by the Obama administration.

Trump also said he planned to reintroduce the highest level of economic sanctions on Iran.

The country's foreign minister Mohammad Javad Zarif too is seeking to salvage the deal, this weekend commencing a tour with the other signatories in the hopes the agreement can be "re-designed" without the U.S.

South Africa has strong and longstanding trade relations with both countries, with the US being South Africa's third biggest trading partner. As that view hinges on Opec reviving output and a limited impact on Iran from USA sanctions, prices could go even higher, it said, becoming the first Wall Street bank to suggest a return to $100. "A lot depends on what we can do within the next few weeks".

"I want to stress that that does not mean we are in any sense not going to be working with the Americans", Johnson said, adding: "it's vital that we continue to engage with the United States of America and continue to interrogate our friends in Washington about how they see the nuclear deal developing".

"It won't be easy, that's clear to all of us". The issue here is what the Europeans are going to do. She has reported extensively from the Middle East on the rise and fall of terrorist groups such as ISIS in Iraq.

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Mogherini agreed at the end of a long day of diplomatic meetings.

Denmark's Maersk Line said it had ceased acceptance of the specific cargoes blacklisted by the US Treasury this week.

Oil prices wavered between gains and losses Friday morning but hovered near the more-than-three-year highs reached after President Donald Trump's decision to pull the US out of the Iran nuclear deal.

Trump's withdrawal from the deal has imperiled not only the accord, but the threat of sanctions could trickle down to European companies doing business with Iran.

It also demanded that Iran cease supplying weapons to the Houthi rebels, who have been at war with Tehran's archenemy Saudi Arabia, end cyberattacks against the US and its allies, stop menacing USA military ships in the Persian Gulf and abandon its rhetoric about destroying Israel.

"European companies are more exposed to the United States market, they must comply not to get into trouble". The commission is expected to unveil them to European Union leaders at a summit in Sofia, Bulgaria, on Wednesday.

Mr. Le Maire also called for the EU to create financial instruments that would sit beyond the reach of Washington's powers and an agency that would enforce European law against foreign-based companies-a tit-for-tat rejoinder to Washington's powers over non-U.S. companies.

Russian Federation and Iran once had hard relations, but have seen ties improve since the end of the Cold War.

In his television appearance Sunday, Mr. Pompeo also expanded on his comments Friday that the USA would help North Korea achieve economic prosperity if it gave up its nuclear arsenal.