With the global economy heading into full blown stagflation and recession, it is at least some comfort that oil prices are at least not spking…yet.
The 3-month trend in both Brent cruide and West Texas Intermediate has been largely sideways around $110/barrel.
At least $200/barrel oil is not (yet) on the horizon.
Will Biden have to shut down the Permian Basin for the Saudis to stay with the west and the petro-dollar?
Or is the deal to join the BRICS Coalition done?
Will Biden have to shut down the Permian Basin for the Saudis to stay with the west and the petro-dollar?
Or is the deal to join the BRICS Coalition done?