Andurand: Oil prices could exceed $140 if China’s economy fully reopens
“Andurand’s forecast goes against the trend that crude oil prices set so far this year. During the first week of the year, crude oil prices tumbled by 9% in the first two trading days in what was the worst start to a year since 1991.”
USAGOLD note: Oil would not be the only commodity to be energized should the Chinese economy kick into gear. At the same time, a sudden surge in commodity prices could wreak havoc with the Fed’s 2023 inflation modeling (with repercussions in financial markets).