Oil Soars As Worries Of Tight Crude Supplies Go Into Overdrive

Does oil really soar? In September 2018, Brent was close to USD 80. Now it’s at about USD 95. Does a 15 USD hike in 5 years mean that it’s soaring? Especially considering that we have had higher in the time between. And we also forget inflation. The last 5 years have seen higher inflation than most people can remember. We have seen close to 10 percent. This means one USD is worth quite a bit less than it was in 2018. This likely negates any increase at all. So, how is oil soaring? In fact, I think that many players are aware that the world is headed for a massive recession. 

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