Higher Oil Prices Not Likely To Lead To Runaway Inflation

After a relentless rally,  oil prices have lately tumbled, falling for two days on potential de-escalation of the Ukraine crisis and the resumption of Iran nuclear talks. March WTI crude (CL1:COM) slipped -2.1% on Tuesday to $89.41/bbl, with April Brent (CO1:COM) falling by a similar margin to trade at $90.75/bbl. French President Macron has said he has received assurances from Vladimir Putin that there would be no "escalation" of Russian pressure on Ukraine, while diplomats from Iran and world powers have reconvened in Vienna to seek a deal…