Rising tensions in the Middle East are adding a premium to oil prices as traders weigh the potential of an interruption to Iran's oil supply.
Escalating tensions abroad could push oil prices to roughly $90 per barrel, according to one analyst."The biggest fear in the market is the biggest geopolitical tension that we’re seeing in the Middle East," Andy Lipow , president of Lipow Oil Associates , told Yahoo Finance on Monday.that a cross-border conflict could eventually involve Tehran more directly. Iran is responsible for about 3 million barrels of oil production per day, or about 3% of the world's output.
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Andy Lipow Oil Prices Lipow Oil Associates Escalating Tensions Crude Prices Iran Barrel
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