Crude oil price at $100 ‘within reach’

If oil prices head above $100 a barrel, it could shave 0.2 percentage points from global economic growth next year -- but this hinges crucially on the dollar, according to Bank of America Merrill Lynch.

Sanctions on Iran, shale bottlenecks, Venezuelan turmoil, and increased demand pose an upside risk to prices, the bank said in a research note.