“The market is still underestimating and not fully pricing the risk of how quickly this could escalate into direct hits on wider Gulf energy infrastructure,” said Haris Khurshid, chief investment officer at Karobaar Capital LP in Chicago. “If this escalates into direct hits then $120 won’t be the ceiling, it’ll be the starting point. To see $140 to $160 won’t be crazy at all,” he added, referring to Brent prices.
