via War between Iran & Saudi Arabia could send oil to $300 per barrel & impoverish the world — RT Business News

An armed conflict between Riyadh and Tehran would have a major impact on oil markets and the global economy. RT asked experts what a war between the two Middle East superpowers would mean for crude prices.

If a conflict happens, oil prices could increase 500 percent.

“Energy prices will seriously depend on the severity of the conflict. Let’s remember the unrecognized Iraqi Kurdistan, which in a state of continuous war exported about 550,000 barrels per day through Turkey. In this connection, we can expect a panic rise in oil price to $150-$200 on the first day of the conflict… If Saudis and Iran attack each other’s oil facilities, crude prices can skyrocket to $300,” Mikhail Mashchenko, an analyst at the eToro social network for investors told RT.

via War between Iran & Saudi Arabia could send oil to $300 per barrel & impoverish the world — RT Business News

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