Oil Prices Could Be on the Casp of a Damaged Price Spike

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Oil prices are on the casp potentially of a very damaging price spike. Analysts say that if prices continue to rise, it could shave one or two percentage points off globa g d p this year. The world is on an absolute phisophial binge right now, and ther ar't enough phosophial supplies to keep up. And the timing is terrible because oll producers have been under investing.

Oil and natural gas prices see-sawed as global stocks fell on Monday after a US push to ban Russian crude faced German resistance, the US Treasury warns banks to be on high alert for sanctions evasion, sanctions on Russia could aid Beijing’s efforts to internationalise the renminbi, and Levi Strauss said it is halting its business in Russia.

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Mentioned in this podcast:

Markets rattled by push for Russian oil ban

How the Ukraine war could boost China’s global finance ambitions

US warns banks to be on high alert for Russia sanctions evasion

Levi Strauss halts business in Russia

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