A clash in the Middle East, while unlikely, would send oil prices surging . Besides long lines at gas stations, the Saudi oil embargo of 1973-1974 helped set off a jump in oil prices that crippled the economy. "Historically, we've seen a spike in oil prices precede or coincide with a recession," said Mike Reynolds, investment strategy officer at Glenmede. And higher oil prices can spread to other parts of the economy, driving up costs on everything from airfare to trucking. SkyBridge's Gayeski said he believes the US economy could withstand Brent oil prices climbing above $100 to $110 a barrel.

Source: CNN May 18, 2019 11:37 UTC