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Story summary
- The Middle East conflict is driving oil prices higher, with Brent crude near $108 per barrel as tensions between the United States and Iran affect the Strait of Hormuz.
- Analysts warn that prolonged high prices could trigger demand destruction and recession risks.
- Rising energy-driven inflation may dampen consumer spending and business profits, echoing past inflation shocks.
- Investors are shifting toward low-duration and inflation-protected assets as markets brace for volatility.
