2017 Will Be The Year Of Inflation

Jon Alternative Media, Blogosphere, Economy, Energy, Market Commentary

With crude oil prices up over 50% YoY (the most in 6 years), and retail gas prices up over 10% YoY (the most in 5 years), Bloomberg’s Garfield Reynolds suggests the Saudis have sealed it then, 2017 will be the year when inflation takes over from disinflation. That’s certainly the tale the market is telling us right now and any devils out there are tucked well away in the details.
The bottom looks to be in for oil. Thanks to OPEC’s capacity to agree among themselves and with ‘NOPEC,’ it’s likely we’ve seen the last of Brent or WTI with a 4 handle at the start of the price for a while.

This post was published at Zero Hedge on Dec 14, 2016.