Middle East Escalation Could Send Oil Prices to $157: World Bank

Any escalation in the Middle East conflict could send oil prices marching toward $100 and beyond.

An oil drilling rig is seen in an aerial view near Watford City, N.D., in the early morning hours of July 30, 2013. Andrew Burton/Getty Images

An escalation of the latest conflict in the Middle East could send crude oil prices to as high as $157, according to a new outlook from the World Bank.

The international organization anticipates that oil prices will average $90 per barrel in the current quarter and decline to an average of $81 per barrel next year as global economic growth slows.