This news just flashed across the interwebz….
It Is About To Get Worse. Much Worse.
Oil prices surged to a 13-year high on Sunday as U.S. officials signaled an openness to a ban on Russian oil imports amid Putin’s invasion of Ukraine.
West Texas Intermediate Crude, the U.S. benchmark, rose 9.5% to $126.64 a barrel as of 7:00 PM on Sunday evening. Brent Crude, the international benchmark, shot up 12% to $130.98 a barrel.
WTI hit an all-time high of $147.27 and Brent hit $147.50 in July 2008.
Oof. How is that buggy whip business looking?