The prices of oil skyrocketed on Friday, continuing their upside spiral after investors received two news pieces impacting the energy market. First, Qatar’s energy minister warned that war involving Iran could send oil to $150 and devastate global economies. Additionally, the Wall Street Journal said Kuwait began cutting production after running out of storage capacity, with further cutbacks expected within days. West Texas Intermediate (WTI) for April’s settlements soared by 8.33% at 8:54 am ET to sell for $87.76 per barrel. Meanwhile, Brent for May’s deliveries jumped by 5.67% to go for $90.25 per barrel.