Oil Prices Could Soon Hit $100 a Barrel Due to Supply Cuts and Geopolitical Tensions
• Oil prices could hit $100 per barrel by May/June as Saudi Arabia extends supply cuts
• Rising geopolitical tensions and OPEC production cuts are driving prices higher
• Higher oil prices raise inflation risks, adding 0.1-0.2 percentage points to UK inflation
• Sustained $100 oil depends on extended OPEC cuts and/or Middle East tensions
• Analysts say we could see $100 oil "within days" if Iran/Israel conflict disrupts supplies