Oil Soars As Worries Of Tight Crude Supplies Go Into Overdrive

October 5, 2023/in /by Rudolf Huber

Does oil really soar? In September 2018, Brent was close to USD 80. Now it’s at about USD 95. Does a 15 USD hike in 5 years mean that it’s soaring? Especially considering that we have had higher in the time between. And we also forget inflation. The last 5 years have seen higher inflation than most people can remember. We have seen close to 10 percent. This means one USD is worth quite a bit less than it was in 2018. This likely negates any increase at all. So, how is oil soaring? In fact, I think that many players are aware that the world is headed for a massive recession.

But Kissler remains unimpressed with Wednesday's trading activity.

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