World oil prices could triple if the current diplomatic stand-off over Iran's nuclear program escalates into a military conflict, Saudi Arabia's ambassador to the United States said on Tuesday.
"The conflict itself ... will shoot up the price of oil astronomically," Prince Turki Al-Faisal said at a press conference. "We think military conflict would be counterproductive in Iran." "The whole Gulf will become an inferno of exploding fuel tanks and shot-up facilities," Al-Faisal said.