What are the effects of higher oil prices?
Oil price sentiment was recently thrown in disarray because of the oil field attacks in Saudi Arabia. The price of oil momentarily jumped higher as fears emerged there may be a shortage of fuel. Rising oil prices can cause inflation and cripple economic growth. In this article we discuss what can happen when the price of oil rises. Pros Higher Share Prices A higher oil price is good for oil suppliers and energy companies. It becomes a positive for their …