Further Oil Price Spikes Could Rekindle Recession Fears

This week’s oil price surge sharply raised the odds of a Fed interest rate hike next week and re-launched the recession conversation, for the first time since the early weeks of the Iran war. The price spike this week saw Brent Crude prices topping $100 per barrel for the first time since July and the U.S. benchmark, WTI Crude, exceeding $100 a barrel as well, after the U.S.-Iran tensions escalated again with no talks of a deal in sight. For six months during the Iran war, the global and U.S. economies have remained resilient in the face…