Brent crude - World Bank still warning that oil prices could reach US$150 a barrel ...Middle East

The World Bank is still cautioning on oil prices, saying that even a small disruption to oil supply could take around 2 million barrels a day out the market. Snippets from the report:in a worse case scenario is a situation similar to the oil crisis of the 1970s, which would could push oil prices up to between $140 and $157 a barrel ( In October 1973, Arab oil-producing nations cut exports to the US and other countries that supported Israel in the Yom Kippur war. Oil prices soared.) "The latest conflict in the Middle East comes on the heels of the biggest shock to commodity markets since the 1970s - Russia's war with Ukraine," "That had disruptive effects on the global economy that persist t

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Brent crude - World Bank still warning that oil prices could reach US$150 a barrel ...Middle East

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