Another Oil Price Shock, Another Global Recession?
By EconMatters
Brent crude ended trading above $120 a barrel on Friday, April 13, while WTI crude on NYMEX for May delivery settled at $102.83 a barrel. Oil has traded above $100 for all but a couple of days in the past year (see chart below). This persistent high oil price has many concerned to start threatening a nascent recovery of the global economy.
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