Oil prices could hit $200 per barrel if the war in Iran continues into the summer

Oil prices could hit $200 per barrel if the war in Iran persists through the end of June, according to strategists from Macquarie Group. If the war were to stretch well into the summer, the strategists wrote in a client note on Wednesday, prices would need to move high enough to "destroy an historically large amount of global oil demand," likely requiring Brent crude prices above $200 per barrel and pushing US gasoline prices up to roughly $7 per gallon. On Friday, Brent (BZ=F) futures traded above $1 ...