Oil .

 

Oil prices could soar to $120 a barrel if Russia's crude exports are derailed by tensions with Ukraine, according to projections from JPMorgan.

The forecast underscores how a potential invasion of Ukraine would cause wide-ranging ripple effects that would be felt by inflation-weary consumers around the world.

"Any disruptions to oil flows from Russia in a context of low spare capacity in other regions could easily send oil prices to $120," Natasha Kaneva, JPMorgan's head of global commodities strategy, wrote in the report published late Tuesday.

JPMorgan warned that if Russian oil exports are cut in half, [that what Pres. Biden wants to do] Brent oil prices would likely race to $150 a barrel. The all-time high for oil prices was set in July 2008, when Brent spiked to a record at $147.50 a barrel.

Just a "Major problematic" thought.