The price of oil will fall in the next few months as fears over Iran fade, says Jim O'Neill, the Goldman Sachs economist who a decade ago invented the term "Bric" economies - for Brazil, Russia, India and China.
Mr O'Neill was in the Gulf last week and took the opportunity to assess the long-term state of the oil market, which has been inflated on worries of a clash over Iran's nuclear ambitions.
"I returned from my trip thinking, as I did before, that an early attack on Iran doesn't make sense for anyone, Israel included, and therefore between now and the summer, whatever premium is in the market because of this issue, it is quite feasible it will decline or be removed," he told The National.
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