Hong Kong-based analyst Dr Marc Faber says a tug of war over oil resources between the US and China could spark World War III.
He believes World War III would erupt over conflict between the US and China over the US denial of oil resources to China.
Based on historic price performance, the international price of oil could remain in an upward trend for the next 20 years "easily", he said.
"At some point, rising commodity prices, especially oil, will eventually lead to World War III because the US has the oil China needs, but doesn't want to give it to them."
