Oil prices, notoriously vulnerable to political events, spiked as high as $40 a barrel during the Gulf War in 1991.
Oil prices in the future will be affected more by scarcity than demand.
( z1 affect :ARG0 ( z2 scarce ) :ARG1 ( z3 thing :ARG2-of ( z4 price :ARG1 ( z5 oil ) ) ) :time ( z6 future ) :ARG2-of ( z7 have-degree :ARG1 z3 :ARG3 ( z8 more ) :ARG4 ( z9 demand :ARG1 z3 ) ) )