The inflation index signalling a 1970s-style leap in prices is looming large
The inflation index signalling a 1970s-style leap in prices is looming large
The impact of Vladimir Putin's war on Ukraine on oil and gas prices is now very apparent.
The price of Brent crude surged to $119.84 per barrel on Thursday - a level last seen on 1 May 2012 - while the price of wholesale gas remains close to the record highs it hit just before Christmas last year.
In the US, meanwhile, the main benchmark for crude, West Texas Intermediate, overnight hit a level last seen in September 2008.
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