Should you be worried about the oil price, asks UBS

UBS advises on whether we are returning to a high inflation world.

Oil prices have steadily increased over the last seven years, reaching an all-time high of more than $75 per barrel in May 2006 and intensifying worries about inflation pressures. Remembering the experiences of the mid-1970s and early- 1980s, such fears might be justified at first glance. However, pondering longer, it becomes puzzling that the steep increase in oil prices has had until now only benign ...

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