Hundred-dollar oil no longer unthinkable in wake of Katrina

..”If we have supply disruptions in Saudi Arabia, Iraq or Venezuela or Nigeria, then it could be even worse,” said Tony Nunan, manager for energy risk management with Mitsubishi Corp’s international petroleum business in Tokyo.

“We could easily have a bigger problem if this sort of thing (labour strike) or terrorist attack occurs in a major oil producing country now… prices will shoot up to three-digit figures,” he said.