This was the FT's chart of the Brent oil crude price per barrel at the close of business yesterday:
Now $99 a barrel, and inexorably rising.
All my economic predictions for this autumn remain: The Great Discomfort is coming.
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The problem for humanity is how it adapts to adversity but increasingly cannot tell the difference between the man made and natural versions.
You should also look at the gap between the price of petrol and diesel vs crude oil. This has greatly increased due to refinery problems. We will regret closing Grangemouth!
Agreed
Dont forget as well that a lot of Russian refineries have been destroyed and shipping refined products out of the Gulf is difficult if not impossible so the ‘crack split’ – the share taken by the refiners is rising. The real issue is the shortage of ‘refined’ products as the capacity to produce them is dropping
Agreed