A New Episode of The Oil Cycle: Inflation
Inflation is the talk of the town. Price indices around the world are showing sharp year-over-year increases. The benchmark US Consumer Price Index is tracking over 5% per year. That’s high: for over a dozen years we’ve been acclimatized to half that rate. The pull for resource commodities is a big part of what’s driving broad-based inflation. Consider oil. A barrel of Texas light is selling for over $US 70, again. Only a year ago, under debilitating lockdowns, forty bucks […]