Friedman: Iran war may prompt $300 oil

American political analyst George Friedman says an attack on Iranian nuclear facilities would be ‘cataclysmic to the global economy’.

He warned that a war against Iran would likely result in Tehran retaliating with attacks on oil tankers in the Strait of Hormuz, a strategic passage for oil transfer from the Persian Gulf states.

Crude oil prices may subsequently rise to ‘more than $300 a barrel’, which will be ‘cataclysmic to the global economy and stock markets’ even over a short period, Friedman added.

This follows a UN nuclear watchdog declaration that Iranian enrichment does not exceed 3 percent, which is consistent with electricity generation.

Tehran is a signatory to the Non-Proliferation Treaty and argues that its enrichment activities are aimed at electricity generation and further peaceful applications of nuclear technology.

PressTV