If Middle East crisis leads to a ‘large disruption’ (6-8mbpd) in oil supply then the World Bank forecasts an increase in oil prices to between US$140 and US$157 a barrel.
via Simon Watkins The ability of either the U.S. or China – or even both working together – to contain Iran’s response to the attacks on its military proxies may have disappeared with the latest U.S. attacks on them. The U.S.’s toleration of increased oil flows from Iran to China also meant that Beijing was …