It is for the first time since 2014, that oil’s prices per barrel are reaching that dangerous milestone of $100 might put a double-punch after the COVID-19 blow to the world economy. It will surely hollow out any hope for recovery, and inflationary air might burst the balloon of growth from inside out.
United States of America and its Federal Reserve including central banks is already under tremendous pressure to stop the highest price surge in last decades.
As per the economic shock model prescribed by Bloomberg, inflation will rise by 0.5% if crude oil prices which were $70/barrel at the end of last year, will increase by $30 in two months to touch $100 mark.
