Oil could 'easily' hit $120 if Russia-Ukraine crisis escalates, JPMorgan warns
CNN
Oil prices could soar to $120 a barrel if Russia's crude exports are derailed by tensions with Ukraine, according to projections from JPMorgan.
The forecast underscores how a potential invasion of Ukraine would cause wide-ranging ripple effects that would be felt by inflation-weary consumers around the world.
"Any disruptions to oil flows from Russia in a context of low spare capacity in other regions could easily send oil prices to $120," Natasha Kaneva, JPMorgan's head of global commodities strategy, wrote in the report published late Tuesday.
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