If oil prices stay below triple digits, the economic consequences are not likely to be great. But if not...
The attacks on Saudi Arabia that have sent crude-oil prices surging are certainly the story for financial markets on Monday. Whether they are more than just a fleeting headline depends on just how long production is knocked out or whether the facilities get attacked again.
It’s worth pointing out that even with the big 10% rally in crude-oil prices, Brent crude prices BRN00, -1.67% , trading around $65 a barrel, are still below year-earlier levels. On Sept. 17, 2018, Brent traded at $78.40. So, deep breath. If oil prices stay below triple digits — $100 a barrel translate to roughly $3.57 a gallon at the pump — the economic consequences are not likely to be great.
The Fed wasn’t sure whether oil prices caused recessions or simply was a proxy for other determinants of the business cycle.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Crude Prices Soar After Saudi Oil Disruption, Threatening Global GrowthOil prices soar after Saudi attack; U.S. crude futures up 12%, global benchmark rises 18%
Baca lebih lajut »
Oil jumps the most ever after attack cuts Saudi Arabian suppliesGlobal oil prices surged the most on record after a strike on a Saudi Arabian oil facility removed about 5% of global supplies, an attack the U.S. has blamed on Iran.
Baca lebih lajut »
Oil prices spike after attack on Saudi facilities hits global supplyOil prices surged more than 15% at the open on Sunday after an attack on Saudi Arabia's oil facilities on Saturday that knocked out more than 5% of global oil supply.
Baca lebih lajut »
Oil prices soar 10% after attack on Saudi facilities hits global supplyOil prices retreated on Monday after hitting their highest since May at the open...
Baca lebih lajut »
Oil prices surge 15% after attack on Saudi facility hits global supplyOil prices surged more than 15% at the open on Sunday after an attack on Saudi A...
Baca lebih lajut »
Attack is a game-changer in Gulf confrontationThe attack on the world's largest oil processing plant early Saturday morning is a dramatic escalation in the confrontation between Iran and Saudi Arabia -- even if the Iranians didn't fire the drones or missiles responsible. | Analysis by TimListerCNN
Baca lebih lajut »