After Jerome Powells Friday Jackson Hole speech set the tone for expansionary monetary policy, sharpening geopolitical strife in Ukraine and Israel caused oil prices to rise sharply Monday morning.
Brent prices rose above $81 per barrel this morning and WTI prices closed in on $77 per barrel.
The largest exchange of fire between Israel and Hezbollah since their 2006 war laid to rest any notions of an upcoming cease fire, while Russia forcefully struck targets in Ukraine in multiple cities.
Furthermore Libya’s unrecognized government closed down all production and exports amid internal conflict surrounding the central bank.
By Staff
