Talk of $100 oil returned to the market this week following the Iranian attack against Israel that sparked fears of a widening conflict in the Middle East. Analysts are not ruling out $100 oil in case of further escalation and even $130 oil if a broader conflict disrupts oil flows in the Strait of Hormuz, where around 21 million barrels per day (bpd) of oil pass from the top Middle Eastern exporters en route to global markets. That’s around a fifth of daily global petroleum consumption. However, the market – while still on edge expecting a possible Israeli response to the Iranian attack – shrugged off the latest ... (full story)