Oil prices are set to rise once more as renewed US attacks on Iran leave the Strait of Hormuz, a major artery of oil trade, closed again. With US strategic petroleum reserves at their lowest in over 40 years, America will have trouble keeping oil prices below US$100 a barrel, as it has mostly done in the war so far. Analysts warn that sustained oil prices above US$100 risk accelerating inflation, depressing consumption and inviting recession.
They have also turned their attention to China and...
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