From the Markets Chiasmus archive: "Oil hits $91, 1st time in 7 years. 3 day prediction was correct." Posted on February 5, 2022.
In lieu of the oil price now close to year on year highs. Please refer to the below post from 5th February 2022.
My three day prediction for oil to reach $91 which was set on the 31st January was correct, with the price hitting $91 on Thursday, closing out on the Friday session at $92 a barrel, as noted with Chart 1 and 2 above.
Could oil set off hyperinflation?
Central Banks, who have mostly been in denial of inflation may mute, in some cases irrationally, like the Bank of England governor’s madness, in their response to interest rate increases, which is the only ‘tool’ they have. A 0.50% rise that the Fed is proposing for March 2022 maybe too low.
Watch meat and bread prices fortnightly for price increases. Supply chain issues are still persistence, bonus chart below:
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