Crude Oil At $150? Joe McMonigle Warns Markets Are Underpricing West Asia Risks

Oil markets may be underestimating the geopolitical risks in West Asia, warns Joe McMonigle, President of the Global Center for Energy Analysis and former Secretary General of the International Energy Forum, in an exclusive conversation with Business Today TV. He says global crude storage has fallen by a billion barrels since the crisis began, weakening a key buffer that previously helped keep prices in check. With energy infrastructure vulnerable to attacks and crude flows through the Strait of Hormuz relying on US military support, McMonigle believes oil prices should be significantly higher and could approach $150 a barrel if risks persist.