Oil prices on a tear higher since summer: is a US recession close?
Oil prices jumped during summer and threatened to break above the pivotal $100/barrel (WTI crude oil). A combination of factors, such as strong demand, sanctions of Russia for invading Ukraine, etc., led to oil prices reversing the previous bearish trend. In 2022, the WTI crude oil traded above $120/barrel. It…
October 19, 2023