Will Sustained $100 Oil Choke Off Global Recovery?
The escalating unrest in the Middle East has triggered a rally in oil prices, with Nymex crude spiking above $100 a barrel last week for the first time since 2008.
Stocks around the world tumbled as a result, as investors panicked over the adverse impact of high oil prices. IEA's Executive Director Nobuo Tanaka has weighed in, saying the global economy could see a repeat of the 2008 financial crisis if oil prices stayed above $100 for the rest of the year.
Do you agree with him? Will a sustained $100 oil crimp the global economic recovery?