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<Commodity>Commonwealth Bank of Australia: Brent Oil Futures May Surge to US$150 if Iran Crisis Persists for Mths
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The Middle East crisis could persist for several months, leading to a shortage in crude oil supply and potentially driving Brent oil futures prices up to US$150 per barrel or even higher, the Commonwealth Bank of Australia released a report saying. Investors are underestimating the potential impact on the energy market, the report added. If the conflict remains unresolved, oil and refined oil prices could soar to historic new highs. Once physical shortage of crude oil supply is realized, Brent oil futures prices may rise to US$120-150 per barrel, which would force developing economies into what is known as 'demand destruction.' AASTOCKS Financial News Website: www.aastocks.com |
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