ICYMI: What $200 oil could do to Canada and the world economy — and it's not pretty — via financialpost
Unbelievable as it sounds, the world may be about to find out.
“The scramble for additional barrels to fill what could balloon to a 3-4 mb/d Russian export deficit will undoubtedly move into warp speed this week,” RBC Capital’s Helima Croft also said in a note. BofA’s Harris says the main risk to the U.S. economy — and it could be argued the global economy — from the Ukraine crisis is a sharp rise in oil prices.
While Harris in his note stresses that this is a scenario, not a forecast, “the problem is that we have no confidence in predicting what happens next.”
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