Early on Monday, the International Monetary Fund (IMF) came out with its breakeven analysis for crude prices and Iran. The global organization cites that sanctions on Iran have weighed such that the Arab nation will need Oil prices rallying to $194.60 to balance its budget next year.
Key quotes
“Iran’s breakeven price for Oil soaring as sanctions bite.”
“Would need Oil at $194.60 a barrel to balance its budget next year.”
Fx implications
While market reaction to the news has been mostly quiet, this could support Oil prices in a case joined by a geopolitical tension between the United States (US) and Iran.
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