Christof Ruehl, Crystol Energy advisor, says oil must top $120
Crude oil prices have to go above $120 a barrel before they start making serious waves in the world economy, says Christof Ruehl, Global Advisor at Crystol Energy.
But he points out that attacks on things like pipelines are actually a bigger worry right now.
Even though there have been some recent hiccups in places like the Strait of Hormuz, markets have stayed steady thanks to solid backup supplies.
Ruehl warns attacks risk supply shortages
Christof Ruehl, Global Advisor at Crystol Energy, warns that if attacks on energy infrastructure keep rising, we could see long-term supply problems: actual damage is what he calls the more immediate risk.
Global economies aren't as sensitive to oil price jumps as they used to be, but if key facilities get hit, reserves could run out fast.
He also notes China's big oil reserves help balance things out, while US reserves are at historic lows, making energy policy even more important with today's global tensions.