Oil prices were going up regardless of the events in the Middle East, so it was bound to happen anyway. It was a catalyst, but if it wasn’t that, it would have been something else. Oil prices have been trending up for a while, and so are other commodities. And that’s going to continue.
It’s a result of the Federal Reserve, and of other central banks that are following the Federal Reserve’s lead. Monetary policies around the world are too loose. Central banks are printing a lot of money, and so prices are going to keep rising. - in indexuniverse
Related: United States Oil Fund (USO), Exxon Mobil (XOM), Murphy Oil (MUR), IPath Crude Oil ETF (OIL), SPDRS Select Energy ETF (XLE), ConocoPhillips (COP)
Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.