There is still plenty of upside for oil prices from here as demand is on course to outstrip supply throughout the rest of the year Plenty of analysts are now preparing for $100 oil, with demand destruction unlikely to occur at current prices Despite the inflationary impact of rising oil prices, it is unlikely that markets will be driven into a recession The rally in crude oil and other energy prices has sent U.S. gasoline prices to a seven-year high and raised inflation in all major economies. Economists and analysts have started to worry that inflationary pressure coming from energy prices coupled with supply chain bottlenecks for nearly all goods will not be as transitory as central banks expect. There is growing concern that inflation could be ‘transitory for longer’, and high energy prices and supply chain issues could slow down the global economic recovery from the pandemic. Still, […]