World Bank Warns Middle East Conflict Could Propel Oil Prices To $157 Per Barrel
Portfolio Pulse from Piero Cingari
The World Bank warns that the ongoing conflict in the Middle East could potentially drive oil prices up to $157 per barrel. The report outlines three scenarios: a small disruption could lead to a 3-13% price increase, a medium disruption could result in a 21-35% price increase, and a large disruption could cause a 56-75% price surge. The United States Oil Fund (NYSE:USO) has shown little appreciation since the start of the conflict.
October 30, 2023 | 4:51 pm
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The United States Oil Fund (NYSE:USO) has shown little appreciation since the start of the conflict. However, if the conflict escalates, it could potentially drive oil prices up, impacting the fund.
The United States Oil Fund (USO) tracks the West Texas Intermediate Crude Oil Spot Price (WTI). The ongoing conflict in the Middle East has the potential to disrupt oil supplies and drive prices up. If this happens, it could impact the fund, leading to an appreciation in its value.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80