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?
At Least Oil Isn't Spiking...Yet
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?