Oil is the word on everyone's lips at the moment with economists trying to add in the bracing effects of the move from $90 to the current $126.

It is very difficult to be anything other than pessimistic as the US is rumoured to be in recession and Europe and the UK are slowing sharply even before the recent price spike.
What, you might quite reasonably ask, will be the overall economic impact of this sudden (and quite unexpected) new drain on cash resources? Again, we might suggest, it appears that the equity markets to have completely ignored the consequences of a) the inflationary aspect (higher rates) and b) the squeeze on margins. ... Read full article