oil prices global markets

Understanding the Surge in Oil Prices and its Impact on Global Markets

The surge in oil prices, driven by geopolitical tensions and energy sector maneuvers, impacts global markets by fueling inflation, influencing interest rates, and affecting currency and stock markets. With OPEC’s output limitations and conflicts in key regions like Ukraine and Russia, the recent 16% increase in oil prices to near $90 a barrel has sparked concerns about economic growth and inflation worldwide.