Western Economies Are Creaking Under High Oil and Gas Prices, With No Relief in Sight

As the war in Ukraine drags on and Western sanctions on Russia tighten, the prospect of normalizing energy prices is fading, intensifying the conflict over global economic growth, in which Europe seems particularly vulnerable.

After the first rally in 2021 as the global economy began to recover from the Covid-19 pandemic, energy prices rebounded following Russia’s February 24 invasion of Ukraine, reflecting concerns that Oil and gas supplies from one of the world’s largest exporters will dry up because of military action, Western sanctions or Moscow’s retaliation.

https://www.wsj.com/articles/western-economies-are-creaking-under-high-energy-prices-with-no-relief-in-sight-11652198600 Western Economies Are Creaking Under High Oil and Gas Prices, With No Relief in Sight

Alley Einstein

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