The longer the war drags on, the worse it will be for the global economy. “We run out of reserves at about four weeks. You know, there are reserves all over the world, and we would really run out, and there’ll be a time when you wouldn’t be able to get it. It would be bedlam,” Trump said overseas.
Various banks and oil companies ostensibly agree, presenting various price forecasts. JPMorgan Chase said Brent, the global benchmark for oil prices, could hit $130 if disruptions persist. Goldman Sachs estimated Brent reaching triple digits for months. Exxon, pointing to historically low global inventories, said the secondary effects could push a barrel of crude to around $130.
Read Full Article: https://www.libertynation.com/ending-the-iran-war-to-stop-an-economic-catastrophe
