Spark USD 100 oil? We are just USD 10 shy of that mark now without the war. And even if the war never materializes (and I am pretty sure it won’t) oil might bust USD 100. So it’s all-party for oil and gas now – ain’t it? It might also be the last twitches of a corpse before full decomposition sets in. The world economy has built up debt at unprecedented levels. Central banks have printed money as if there is no tomorrow and that volume of cash must still have its effect. Inflation is back and its goi ng to get worse – wait until China starts to buckle. Oil will come down again. So enjoy it while it lasts.
Further escalation in U.S.-Russia tensions over Ukraine could send oil prices to $100 a barrel as the rift between the two oil-producing world powers would widen.