Rising Oil Prices and their Impact

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The chapter discusses the reasons for the increase in oil prices, including high demand and tight supply, and explores the effects on petrol prices, the economy, and inflation. It also raises the question of the significance of oil prices reaching $100 a barrel.

Shares in grocery delivery group Instacart jumped more than 10 per cent on their first day of trading, oil prices climbed above $95 a barrel for the first time in 2023, and Canadian prime minister Justin Trudeau sparked fury in India when he said authorities were investigating whether “agents” of New Delhi were behind the June killing of a prominent Sikh activist in a Vancouver suburb.

Mentioned in this podcast:

Instacart shares close up 12% after public market debut

India angered by Justin Trudeau’s claims linking New Delhi to Sikh activist’s death

Oil price exceeds $95 a barrel on fears of supply shortfall

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The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help from Lucy Snell, Monique Mulima, Monica Lopez, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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