$100 oil could be the October surprise no one wanted

Oct. 3, 2024 - CNN

New York CNN —The Middle East is in chaos, and the oil market is remarkably calm about it. Still, US oil prices remain much closer to their 2024 lows than their highs last fall of nearly $90.

Even just two years ago, oil prices skyrocketed to $130 a barrel in March 2022 after Russia invaded Ukraine. Oil prices skyrocketed in 2019 when Saudi oil facilities were damaged in an attack that US officials blamed on Iran.

A disruption in the Strait of Hormuz could send oil prices above $100 a barrel, according to ClearView...