How much oil price pain can consumers take? More than you might think
The war in Ukraine is redrawing the global energy map in ways unthinkable just weeks ago. But consumers and companies may have a buffer to absorb higher prices.
The Biden administration’s decision to place official sanctions on Russian oil and gas was hardly a surprise, but the fact the price of Brent Crude jumped 6 per cent anyway to above $US130 a barrel shows how the market is struggling to come to grips with how quickly the global energy order is being redrawn.
Russia’s invasion of Ukraine has jolted the existing order of the global commodities complex. David Rowe
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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
