The major global powers are still trying negotiations and sanctions to induce Iran to abandon its efforts to develop nuclear weapons. But Iran is playing for time and hoping to reach a zone of immunity.
By 2013, an Israel that – rightly or wrongly – perceives Iran’s nuclear program to be an existential threat, and/or the US, which has rejected containment of a nuclear Iran, may decide to strike, leading to a war and a massive spike in oil prices. - in Project Syndicate
Related: United States Oil Fund ETF (USO)
Nouriel Roubini is an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics.