Oil prices would soar to $150 and market volatility would skyrocket in the most severe scenario for the Israel-Hamas war, EY chief economist says

Mon, 10/23/2023 - 15:16

Oil drills — Oil prices have risen sharply following Russia's invasion of Ukraine.
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Soaring oil prices and market volatility are likely in the most extreme version of the Israel-Hamas conflict.
In an "uncontained" scenario, oil prices could notch $150, EY's chief economist estimated.
Meanwhile, the stock market's fear gauge could spike 18 points as volatility soars.

Oil prices could surge well into to the triple-digits and market volatility could skyrocket in the most severe scenario of an uncontained Israel-Hamas war, according to EY chief economist Greg Daco.