With the United States and allies said to be considering a military strike against Syria, oil prices are up sharply again today — with the Texas benchmark up 1.4 percent to $110-150 a barrel. Higher oil prices are hurting emerging markets, where the Indian currency fell to a record low today, deeping the worst economic crisis there in 20 years. In the U.S., where some kind of economic recovery was in progress, what will higher oil prices mean? Julia Coronado, chief economist-North America for BNP Paribas in New York, explains it all.
As a nonprofit news organization, our future depends on listeners like you who believe in the power of public service journalism.
Your investment in Marketplace helps us remain paywall-free and ensures everyone has access to trustworthy, unbiased news and information, regardless of their ability to pay.
Donate today — in any amount — to become a Marketplace Investor. Now more than ever, your commitment makes a difference.
Cheers to trustworthy journalism!
Give just $7/month to get your own KaiPA glass.