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Surging oil prices may lead to complete EU collapse, Tony Katz warns
Tony Katz argues that every strike on Iran and the resulting rise in oil prices bring the collapse of the EU closer. According to Katz, the closer oil prices get to $200, the faster a complete collapse of the EU economy could take place, as it may not withstand such pressure.
Katz emphasizes that this risk is often underestimated or misunderstood by some observers.
Katz’s assessment of the EU’s vulnerability amid escalating oil shocks is consistent with his previous examination of how market volatility intensified following the 13 blasts that shook Dubai, leading to warnings of an oil price target of $300 a barrel. His outlook further builds on past observations that both the U.S. and Russia require oil prices near $160 per barrel to underwrite new field developments, underscoring the complex pressures high energy costs continue to exert on global economies.
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