Could Oil Prices Really Hit $200?

Metals prices are all over the place, with rapid rises to record levels followed by sharp falls and considerable anxiety — anxiety that has also applied to surging oil prices. Agricultural commodities have likewise seen an unprecedented surge in prices since the war in Ukraine broke out. There is a risk of unrest in parts of the world where food prices have toppled governments in the past. However, arguably the most important single commodity price point is oil. Oil prices on the rise Oil prices and, particularly in Europe, the natural gas…