Oil: Looking at $100

CNN – While a broader conflict with Iran isn’t likely soon, one more big event could push crude prices into the triple digits.

As bombs fall in Beirut, pipelines explode in Nigeria and Iran shakes its fist at the West, energy traders and motorists alike are wondering one thing: How high can oil prices go?

“If another major event takes place, it’s not at all unrealistic for oil to spike to $100,” said Bruce Lanni, an oil analyst at A.G. Edwards. “And there’s no fundamental reason in this current climate to see oil prices retreat below $70 in the next few months.”

CNN