Comment on Oil prices could surge 161% if Middle East conflict wipes out Iran's energy infrastructure, commodity chief says

Oil prices could surge 161% if Middle East conflict wipes out Iran's energy infrastructure, commodity chief says

Anton Petrus/Getty ImagesOil prices could surge past $200 a barrel if Iran's oil installations are taken offline, a chief commodities expert said.Iran accounts for over 2 million barrels of crude exports per day.Traders are hedging against the risk of oil disruption as Middle East tensions heat up.Oil prices could roar past $200 a barrel if escalating tensions in the Middle East decimate Iran's crude output, a chief commodities analyst told CNBC.SEB's Bjarne Schieldrop noted that that Iran accounts for over 2 million barrels of crude and compensate exports per day.

 

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