Oil Prices Hit Seven-Year High
Yep they are blaming Geopolitical Tensions, However President Biden killing The oil pipeline didn't help any! I doubt oil will have any problems with inflation increases.
Crude prices rose to their highest level since the 2014 shale-induced oil crash, a milestone in a rally that is gathering momentum as geopolitical tensions threaten to knock supply.
Futures for West Texas Intermediate, the main grade of U.S. crude, added $1.61 per barrel, or 1.9%, to $85.43 on Tuesday. That marks the highest closing level since October 2014, when oil prices were moving in the opposite direction as a gusher of U.S. crude flooded the market.