Markets face recession risk amid oil price surge
pre-market1 source ↓written by the desknot a recommendation
- since the U.S.-Iran
- 50%
- conflict began
- 28 Feb
- all-time high
- 7,230.12
- 1 May
Global economies may be sleepwalking into a recession as investors underestimate the impact of rising oil prices, according to Amrita Sen from Energy Aspect. Oil prices have surged over 50% since the U.S.-Iran conflict began on 28 Feb. Despite this, the S&P 500 reached an all-time high of 7,230.12 on 1 May.
Sen warns of misplaced euphoria among investors, who are overlooking the energy crisis affecting global markets. OPEC's commitment to increase oil production may not alleviate the situation.
Not investment advice. For informational purposes only.