Macquarie Warns: Oil Prices Could Surge Past $200

0:00A new report from Macquarie Group warns that, if the war in Iran drags on for three more months, Brent crude oil prices could search past $200 a barrel. That's the main takeaway from their analysis shared with clients this week. They see this conflict as the biggest driver for the global economy's next moves. The firm lays out two pasts forward. If fighting wraps up by the end of March, prices should drop fast, though they'd stay higher than before the war started. But if it stretches to the end of June, expect massive spikes that could crush demand and tip the world into recession. Canadians and others are feeling the pinch already, with gas prices swinging wildly, and Wall Street taking big hits since the war kicked off. Families are bracing for higher costs at the pump, and economies like Ontario's housing market are revising forecasts downward amid the uncertainty. Right now, oil hovers around $90 a barrel, dipping over 100 on tough days, thanks to the straightforward moves being mostly shut down. That alone knocks out about 13 percent of global supply by late March.

1:05Strategic reserves from places like the International Energy Agency, including Canada, might buy some time, holding 1.2 billion barrels. Iran's own military has echoed these fears, predicting $200 oil as attacks on ships and infrastructure ramp up. With ceasefire talks stalling, keep an eye on those prices. Take a force to deal or spark even bigger trouble ahead. This has been Canada News Today, powered by AI.