, Columnist
Bridge Over Oil’s Troubled Waters Is Hard to Find
A lack of enthusiasm to take oil higher adds to evidence of an economic slowdown. And an update on global liquidity.
Slippery slope.
Photographer: Atlas Studio/iStockphoto via Getty Images
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It was the commodity largely blamed for the great spike in global inflation. Spurred by war in Ukraine, oil prices jumped above $100 per barrel to levels last seen in 2014. Since then, it has stabilized as inflation slowly trickled lower — and not even the current incarnation of the OPEC cartel appears able to stop it.