COM - Crude oil topping $100 sets the stage for higher-for-longer prices

Crude oil is surging as Russia strikes major cities in Ukraine, hitting levels not seen since 2014. Brent futures (CO1:COM) (NYSEARCA:BNO) +8% are above $105 per barrel and WTI futures (CL1:COM) (NYSEARCA:USO) +8% are right around $100. "This is a triple-hit to the global economy, with a toxic combination of higher inflation, lower economic growth, and greater uncertainty," eToro strategist Ben Laidler wrote. "The only silver lining is growth is strong, a buffer to any slowdown, and policymakers and investors already prepared for high inflation." "History shows limited medium term geopolitical impacts on global markets, with the greatest impact pre-event and locally. Russia produces 10% of the world’s oil and is the biggest European natural gas supplier." "We see high-for-longer commodity prices (NYSEARCA:DJP), with current oil ‘risk premium’ only latest driver to a structurally very tight market," Laidler said. "Supply disruption risks are low. Russia reliably supplied the West through the cold war. Whilst

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Crude oil topping $100 sets the stage for higher-for-longer prices