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BofA says Trump unlikely to take 'hard stance' on Iran


(Reuters) - Bank of America Merrill Lynch said on Friday the United States, in the runup to midterm election, is unlikely to take a "hard stance" against Iran, resulting in international benchmark Brent crude to average $70 a barrel in 2018.Iran, the third-largest producer of Organization of the Petroleum Exporting Countries, is facing U.S. sanctions on its oil exports that are prompting some buyers to cut purchases."The administration may look for an easy win on trade to appease markets and voters alike before November," BofA said in a research note.Brent was down 0.7 percent at $73.91 on ...

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First Published: Fri, July 13 2018. 16:31 IST