Goldman Sachs is predicting a possible runup in oil prices into the $90+ range. Looks like President Trump may not get what he wants in terms of oil prices.
https://oilprice.com/Latest-Energy-News/World-News/Goldman-Sachs-Brent-Crude-Could-Hit-93-if-Sanctions-Hit-Iranian-Russian-Oil.html
""We estimate that Brent could temporarily rise to $93/bbl in a scenario where sanctioned supply falls by 1mb/d persistently for Iran and temporarily for Russia""
"The downward price trend could soon come to an end, however, with President Donald Trump’s February 1 deadline for punitive tariffs on Canada and Mexico fast approaching.
One potential spanner in the works with Goldman’s $93 per barrel scenario is OPEC’s production plans, which are facing pressure from the recently installed US President to ramp up production to lower crude oil prices—ostensibly for the purposes of forcing Russia’s hand even further to give up its ambitions in Ukraine. Standard Chartered, however, feels that the President is unlikely to be successful in his attempts to wield lower oil prices as a geopolitical maneuver—in part because of the lower oil prices that would sink the US oil industry as well.""