Qatar's Energy Minister warned Wednesday that crude oil prices could reach $300 per barrel or more if the US attacks Iran.
Abdullah bin Hamad al-Attiyah said that he personally "excluded this scenario," because US President George W. Bush had little time left in the White House, Aljazeera reported.
"In case Bush decides to carry out his threats to attack Iran, then oil prices may jump to unprecedented levels, perhaps to $200 or $300 or more or less," the Qatari minister said.
Though it refuses to rule out any military options, the Bush administration has regularly said it has no plans to attack Iran as it confronts the Islamic nation over its nuclear programme.
Al-Attiyah also attributed the recent record rises in oil prices over the past few months to "political tensions and speculation rather than supply shortages".
