of oil. whatever happens on this scenario we ll see higher rather than lower price? i think in the near term as we see pressure mount on iran, if the eu follows through on sanctions, i think this will result in the short term of increased oil prices, just given the risks of that disruption of supply. significant, could you put a number on it? i think it s difficult to put a number on it. in the short term i could see oil testing over $120, $125 a barrel. brent? yes, brent, those kinds of number. like we saw in 2011, of course, with libya, this is the point at which the marginal consumer in the u.s. starts to get squeezed out, starting driving less and it begins to impact the global economy. it s a tipping point, isn t it? yes. charles? japan s prime minister want tos double the sales tax from 5%
india, ford s allen moulally. caution has crept in before the week is out. european markets are marginally out, asian markets are marginally down. futures are flat. the predicted number of new jobs is around about 150,000. many say that is better but charles still not good enough. no. i think that s very much going to be what is dominating investor thought really all way around the globe. we are seeing this slight rebound here in europe. there was a bit of a sell-off, i think perhaps in anticipation of a strong nonfarm payroll. maybe as many as 90,000 jobs being created. that s the whisper number on wall street. as that number goes down to more than 150,000, which seems to be the consensus, there s less prospect of u.s. interest rates being moved up soon and perhaps there s pressure on the euro. there is a lot of worry out here behind all of this. we re still worrying about banks. .only credit rights issue a couple of days ago is still being talked about in the markets be