Analysis: As inflation breaks records, $100 oil is also looming

  • 📰 Reuters
  • ⏱ Reading Time:
  • 13 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 97%

United States Headlines News

United States Latest News,United States Headlines

Already less transitory than forecast, central bankers' inflation headache may be about to become more acute as they face the prospect of $100-plus oil that lifts consumers' price expectations and intensifies simmering wage hike pressures.

Brent crude futures, which soared 50% in 2021, are up a further 14% already in 2022 at seven-year highs of $89 a barrel . With production capacity tight, inventories low and geopolitics racking several producing regions, oil is hurtling towards $100, a level Goldman Sachs predicts will be breached by mid-year.Register now for FREE unlimited access to Reuters.

Many also argue the psychological impact of $100 oil cannot be understated, especially as consumers, businesses and politicians fret over inflation at multi-decade or record highs; the latest U.S. consumer price reading was 7%, a 40 year-peak.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Crypto Markets Lose $100 Billion Daily as Bitcoin Dips Below $42K (Market Watch)The crypto market cap is down by roughly $100 billion in a day as bitcoin and most altcoins went on another ride south.
Source: Crypto_Potato - 🏆 568. / 51 Read more »

Oil prices will surge to $100 this year, Goldman Sachs warnsGoldman Sachs is now calling for oil prices to hit $100 a barrel later this year and continue rising in 2023, signaling higher prices at the pump are on the way Open up the pipelines. I don’t care if oil goes to $500 a barrel. My car will still be cheap to run. Looks like big oil still has us by the Sachs.
Source: CNN - 🏆 4. / 95 Read more »

Here’s What We’re Buying With $100 at Revolve - E! OnlineGot $100 to spend but have no clue on what to spend it on? We've rounded up some must-have $100 and under items from Revolve.
Source: enews - 🏆 466. / 52 Read more »

Holidays sales hit record $886.7 billion, says National Retail FederationNational holiday sales hit a record despite supply-chain problems, inflation, COVID-19 and other detractors.
Source: clevelanddotcom - 🏆 301. / 63 Read more »

Cointelegraph MarketsThe crypto markets never stop. Neither do we. Join CointelegraphMT on Telegram and get all the news you need delivered directly to you.
Source: Cointelegraph - 🏆 562. / 51 Read more »

Oil prices will surge to $100 this year, Goldman Sachs warnsGoldman Sachs is now calling for oil prices to hit $100 a barrel later this year and continue rising in 2023, signaling higher prices at the pump are on the way Open up the pipelines. I don’t care if oil goes to $500 a barrel. My car will still be cheap to run. Looks like big oil still has us by the Sachs.
Source: CNN - 🏆 4. / 95 Read more »