Well oil pricing is under 100 dollars but could this be the beginning of the perfect storm? There is a growing concern in the markets with the intensified war in Ukraine and the continuous unrest in the Middle East (how long until the jihadists seize Baghdad?) .
President Obama authorized attacks against Iraq rebels causing oil price to rise on New York and London markets and this could be the beginning of a rising trend. After all Iraq is he second largest oil producer and is suffering heavily already due to the civil war.
What if Russia decides to invade Ukraine? How much will the oil price jump with pessimists seeing it even at 200 dollars?
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