Why Oil Prices Will Rise In The Short Term

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. …