hitting its highest price since 2008 and the stock market on edge with the first land war in Europe since WWII being waged by one of the world's biggest crude oil suppliers, oil prices and energy stocks are an area of focus for investors.
There is of course disagreement and contrarian takes. Citi's commodities team wrote last week it is becoming "probable" that oil prices have peaked already or could soon consolidate near a top. But that would require a de-escalation in the Russia invasion of Ukraine and progress on Iran talks. U.S. inventories are at or near lows, but Citi says stock builds are on the way in 2Q'22.
A big caveat: the evidence isn't deep. "Recessions don't come along that often, so we're talking three periods since 1990," Colas said. The spike in oil and gasoline prices comes just as commuting is returning to normal again as well, with more companies calling back workers across the country as the omicron wave of Covid has declined.
He said there is evidence from recent periods when spikes in oil prices didn't spell doom for the economy, but there was a key difference between those periods and today. Previous periods which were close to recession-inducing levels, but when no economic contraction occurred, include 1987 and 2011 .
Source: News Formal (newsformal.com)
Talk about the record profits don't cuck for big oil companies let the people know they've been making record profits which means they have been gouging the prices. We need government intervention and control of our own oil not rely its price on greedy oil tycoons.
Invest in whatever Hunter is on the board of for something in international growth, or one of Nancy’s husband’s stock picks for domestic.
I will never we listen to cnbc investing advice they are run and owned by hedgies
We are almost there. And Biden is bound to be a one-term president because of it.
When laws are imputed as price gouging these company's are held responsible. Time to set in law and enforce it . lets see these company's fck american people over and not think there going to be held responsible. Wrong
First war in Europe since WW2? Is this journalist a joke? Bosnia, Croatia, Kosovo? Embarassing
Buy oil to Venezuela
Find out what Nancy Pelosi is invested in and invest in that. You'll never lose.
NoFlyZoneOverUkraine
we r in recession. oil price is almost 73% up from Dec, 2021 and almost 35%+ up in Feb only.
Bitcoin baby