Expert: If Iran follows through on its threat to attack Gulf energy facilities, oil prices could reach $120 per barrel.

Aditya Saraswat, Vice President of Rystad Energy, stated in a report that if Iran were to attack key oil and gas facilities in the Persian Gulf that it had previously threatened, crude oil prices could reach $120 per barrel. Saraswat said, "Any such attack could potentially raise oil prices by at least another $10 and severely disrupt supply, especially in the major oil-producing countries of the Middle East." The report refers to Iran's warning on Wednesday that five facilities are targets for attack: Qatar's Ras Laffan refinery and Mesaieed petrochemical complex, Saudi Arabia's Samref refinery and Jubail petrochemical complex, and the UAE's Al Hosn gas field. Saraswat stated that if Iran were to attack facilities in Saudi Arabia, the UAE, and Qatar, the global market could lose at least 700,000 barrels per day of refined oil production capacity. Disruption to key infrastructure like the Port of Fujairah could result in market losses of 5-6 million barrels per day, and could potentially push oil prices to $150 per barrel or higher.