$100 Oil Puts Central Banks Back on Inflation Alert

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Crude oil prices have extended their earlier gains into this week, with little chance of reversing course as the war in the Middle East expands and desire for a peaceful resolution seems to wane, as global oil stocks continue shrinking. Inflation is creeping up. Recession fears are back. It may just be a matter of time. Diesel prices in the United States have gained some 60% since late February, the Wall Street Journal reported at the end of last week. It was the same week when diesel prices hit an all-time high of $6 per gallon, sparking those…