A sudden upswing in crude futures could be enough to fast-track the energy market’s next crisis, one economist told CNBC on Thursday.

Oil prices soared to levels not seen since late 2014 on Thursday, following reports OPEC kingpin Saudi Arabia would be content to see crude prices rally as high as $100 a barrel over the coming months.

“Oil prices are high because the dollar is low,” Daniel Lacalle, chief economist at Tressis Gestion, told CNBC’s “Squawk Box Europe” Thursday.

Read more

The Emergency Election Sale is now live! Get 30% to 60% off our most popular products today!