Diesel, Not Brent, Is Now Driving Europe’s Inflation Shock
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The latest attacks involved the exchange of fire between the U.S. and Iran since July, in a war already entering its seventh month.
The international price of crude oil (Brent) is "stinging" again as the situation in the Middle East continues to evolve and investors' eyes are focused on it.
FinanzaOnline
Wall Street ItaliaThe price of oil remains high due to geopolitical tensions in the Middle East, with US attacks in Iran and Israeli threats. The Brent and the WTI show a upward trend, while Iraq increases oil exports.
Diesel, not Brent, is now driving Europe’s inflation shock
Oil prices are increasingly not the thing to focus on; it is petrol and diesel prices that matter, and diesel is pricing as if oil were 140 dollars. Everyone uses crude as a proxy for oil-related inflation because normally that works fine, he added, but at the moment it probably underestimates the impact. That gap between the headline and the reality is what has European politicians alarmed this week. Brent sits around 95 dollars, up 6.6 percent…
Oil prices were operating for nearly six weeks this Thursday, after new U.S. attacks on Iran and renewed Israeli threats against Tehran fueled concern over possible disruptions in the supply of the Middle East.
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