$200 Oil No Longer Crazy Idea as Middle East Supply Collapses

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A month ago, any analyst suggesting international oil prices could soar all the way to $200 per barrel would have been laughed out of the studio. Now, some are beginning to acknowledge that this is a real possibility, and with good reason. Oil and fuel exports from the Middle East stood at 25.13 million barrels daily in February, Reuters reported this month, citing data from Kpler. By mid-March, this had plummeted by close to two-thirds, to 9.71 million barrels a day. Vortexa has even more worrying figures, putting the February daily average at…