Oil prices are rapidly heading toward $100 US a barrel, but analysts say the chances of crude smashing that threshold greatly depends on what happens next in Ukraine.
The potential for a war in eastern Europe has made energy prices volatile over investor fears that conflict between Russia and Ukraine could disrupt supplies. Russia produces 10 per cent of global oil supply.
On Wednesday, the benchmark West Texas Intermediate price came close to $94 US per barrel in the morning’s trading, and many experts have suggested it will go higher.
“I think based on the momentum we’re seeing, unless we see
