RE: Oil Price Is Going To 100$

Yes, the countries have big reserves, but the price is determined by the supply, meaning how much they drill and sell. Right now, Iran is attacking oil drill sites in all of the Persian Gulf countries. The Strait of Hormuz is under a blockade, so ships with oil cannot pass, or they have to make a longer trip. For a ship to get insured, the price has gone 12X from a week ago. China and India buy its oil from Iran somewhere like 20-30%, and now Iran cannot supply that oil, so they will have to buy it from someone else, so less supply, higher prices. If the war ends soon, then the prices will stabilize and soon return to lower levels.