03.03.2014 - Ukraine war could cause huge oil price spike
It has been over a year since the near-collision of Israel and Iran, then in the midst of enhancing its nuclear stockpiles, drove oil prices up. As Ukraine’s Crimea region is invaded by Russian troops, the chances that oil prices will rise, and rise sharply, due to a regional conflict are back again. It takes very little in terms of global political conflicts, weather, or tightened supply to press the price of crude higher. One big hurricane in the Gulf of Mexico, racing toward Texas refineries can trigger it. So can any hint that OPEC might throttle supply. Tensions in the Middle East seem to affect oil prices almost annually, if not more often...............................................Full Article: Source
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