Oil May Rise as Iran Threatens to Block Strait, Survey Shows
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Oil may rise next week after Iran’s threats to block the Strait of Hormuz, a critical waterway for shipping crude, a Bloomberg News survey showed.
Thirteen of 32 analysts, or 41 percent, forecast oil will increase through Jan. 6. Ten respondents, or 31 percent, predicted prices will decrease and nine estimated there will be little change. Last week, 38 percent of surveyed analysts expected a decline.