Bob McNally, Rapidan Energy Group Founder & President, says he easily sees $3 to $5 upside risk in oil prices, with the tensions between Iran and Israel likely to continue and potentially expand. He added that the US regime is concerned about the inflationary pressure of elevated oil prices, especially if they hit around $120 a barrel, something he described as potentially as “devastating price spike.” He spoke with Dani Burger on Bloomberg Brief. (Source: Bloomberg)
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Rapidan's McNally Sees $3-5 Upside Risk to Oil
