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Article by Scott Montgomery: “Oil price shocks have a long history, but today’s situation may be the most complex ever”

Image: The Conversation

March 11, 2022

“The world is in the grip of an oil price shock. In just a few months, prices have risen from US$65 a barrel to over $130, causing fuel costs to surge, inflationary pressure to rise and consumer tempers to flare. Even before Russia’s invasion of Ukraine, prices were climbing rapidly because of roaring demand and limited supply growth.”