Trump administration officials are examining what a potential spike in oil prices as high as $200 a barrel would mean for the economy, according to people familiar with the matter, a sign senior officials are studying the possible fallout from extreme scenarios for the Iran war, Report informs via Bloomberg.
Modeling of how damaging a bigger jump in oil prices could be to growth prospects is part of regular assessment done during times of strain and is not a prediction, according to the people, who asked not to be identified, commenting on matters that aren't public.
The effort is aimed at making sure the administration is prepared for all contingencies, including a prolonged conflict, they said.