A ceasefire between the US and Iran is likely to drive down global crude oil prices to around US$70 per barrel, according to a specialist on the US and Chinese economies.
"US President Donald Trump's ultimate goal is to keep oil prices less than $70-80 per barrel. If he fails to bring prices down to that range, the likelihood of losing the midterm elections and the subsequent presidential election is high," said Sompop Manarungsan, president of the Panyapiwat Institute of Management.
