War Is On, Oil is Up, Inflation is Coming

Wars always expose economic weaknesses that already exist. And now, as old patterns repeat themselves, we’re seeing higher energy prices, larger government deficits, and rising inflation catalyzed by the US campaign against Iran.

The developing situation inIran has already sent shockwaves through global energy markets, pushing oil prices sharply higher and reigniting fears of inflation. But inflation was already baked into the system. The war is simply accelerating the trends that were already underway.

Oil prices have surged past $100 per barrel for the first time since the early stages of the Ukraine war. Brent crude briefly approached $120 before pulling back, reflecting an unfurling of fear and uncertainty about how the conflict may unfold.

Crude Oil, 1-Year