The price of a barrel of Brent could spike from current levels of around $114 to anywhere between $135 and $210 in the unlikely event of a military strike on Iran’s nuclear facilities by the US or Israel. However, this threat is itself a very powerful reason for the West to hold off. Instead, by far the bigger risk is that oil prices will collapse due to an escalation of the financial crisis in the euro-zone.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.