Oil Prices Surge, Predicted To Hit $150 Per Barrel Following Hamas Attack

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Oil Prices Surge, Predicted To Hit $150 Per Barrel Following Hamas Attack

October 9th, 2023

Awake Goy

Oil prices have rocketed by almost 5 percent in the wake of the Hamas attack, with some analysts now predicting it could hit $150 per barrel and warning that Americans already facing inflated gas prices will again have to deal with a price surge.

Reuters reports that Oil prices jumped more than $3 a barrel in early Asian trade on Monday:

Meanwhile Biden drained our strategic reserves & shut down U.S. energy production https://t.co/KhS5MVzyRy

— Josh Hawley (@HawleyMO) October 9, 2023

Commentator Nick Sortor notes that “Joe Biden has drained the strategic petroleum reserves, which will give even more leverage to OPEC+ countries to take advantage of the Israel/Palestine conflict.”

"Oil will go back to $100 a barrel within the next few months": TJM Industrials Services Director James Iuorio joins "Mornings with Maria" on oil prices rising after the attacks on Israel. pic.twitter.com/Cs2V66rOp7

— Mornings with Maria (@MorningsMaria) October 9, 2023

OIL JUMPS AS MUCH AS 5% ON FEARS ISRAEL-HAMAS WAR MAY WIDEN

— zerohedge (@zerohedge) October 9, 2023

Zero Hedge notes that “Oil prices have been a veritable rollercoaster in just the past 10 days,” but that “In retrospect, last week’s oil tumble now seems like ancient history, and after Saturday’s unprecedented events in Israel, oil has moved sharply higher after the weekend attack by Hamas against Israel, with Brent topping $88 a barrel to repair some of last week’s heavy losses, and according to some, set to continue rising until it tops $150.”

What Was Behind Last Week's Stunning Drop In Oil, And Where Does Oil Go Next https://t.co/F1fqF1z93L

— zerohedge (@zerohedge) October 9, 2023

Goldman analysts had predicted oil to get to $100 by mid 2024, but that is now expected to climb higher and faster, particularly if Iran is dragged further into the situation.

"Prices Should Increase In The Next Few Days And Weeks": Here Are The Main Implications For Oil From The War In The Middle East https://t.co/cq3J8u94PU

— zerohedge (@zerohedge) October 8, 2023

Warmongers Start Push For U.S. Involvement In Iran Following Hamas Attack

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