Worthy Christian News » World News » Prices Could Hit $150-$200 Per Barrel Without Iraq Oil (Video)


Prices Could Hit $150-$200 Per Barrel Without Iraq Oil (Video)

Saturday, June 14, 2014 | Worthy News / World News

oil-fields

(CNBC / Worthy News)-- If Iraq's oil supply goes offline, crude prices could hit $150-$200 a barrel, T. Boone Pickens, founder of BP Capital Management, told CNBC on Friday.

Crude hit a nine-month high Friday as fears intensified over the conflict in Iraq and its potential to disrupt country's the oil supply. U.S. crude—West Texas Intermediate (WTI)—hit a session high of $107.68 a barrel early Friday. Brent rose to an intraday high of $114.69. -- Source

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Worthy Christian News » World News » Prices Could Hit $150-$200 Per Barrel Without Iraq Oil (Video)

3 thoughts on “Prices Could Hit $150-$200 Per Barrel Without Iraq Oil (Video)

  1. The supply chain for oil is very complex. That being said, the fracking that we are doing in the United States has made the Middle East nervous that we could depend on our own oil. We even want to export our own oil. That being said, the Saudi Arabians will do anything to keep the price of a gallon of gas somewhere between three and four dollars a gallon. They don't want us going to alternative fuels even more than we do.

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