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Iranian oil barrels still in play: Strategist

Missile testing isn't going to stop the Iranian oil barrels from hitting the market, said RBC Capital Market's Helima Croft on Thursday.

On the last day of trading for 2015, Iran President Hassan Rouhani took to Twitter to respond to U.S. threats of imposing new sanctions because of missile testing in October.


Croft, a senior strategist for RBC Capital Market, says that while the Iranian missile testing does violate United Nations regulations, it does not interfere with the nuclear deal signed last July. She expects Iran to continue to export oil barrels. The deal imposed limits on Tehran's nuclear ability in exchange for lighter sanctions against Iran.

"It comes on to the market as long they take down their centrifuges, make the modifications to their nuclear facilities; once that's finished, the Iranians are free to sell whatever they want in terms of oil," Croft said.

While many investors are hesitant to allocate their assets in the energy sector due to the glut in the market, corporate insiders are putting their money where their mouth is, said Roberto Friedlander, head of energy trading at Brean Capital.

"Corporate insiders are always viewed as the smart money, the more informed about a company," he said, speaking to CNBC's "Power Lunch on Thursday. "They actually have turned around and have been buying aggressively in the last three or four weeks."

Friedlander predicts that oil's hit a bottom and pegs it between $34 and $35 a barrel, although he noted that many headwinds will follow into 2016.

On the other hand, Tom Mcnulty, energy director at Navigant Consulting, considers that there's not much visibility into oil prices at the moment due to oversupply. "It's very hard to go out too far with forecasting," he said.