🚨Crude Oil falls below US$100 a Barrel🚨

The price of crude oil fell the most since March last week, and both the U.K. and U.S. benchmarks traded below US$100. The spot price of oil is often very volatile due to logistical issues, but in this case, futures contracts out to July 2023 are now trading around US$90. This suggests that the market is expecting the prospect of a global recession to result in lower demand for oil.

👉If the oil price remains closer to $100 it should eventually filter through to consumer inflation. While the prices of consumer goods and services seldom fall, they may at least…