Oil Returns to Pre-War Levels, but Markets Remain Mispriced
TL;DR
Oil has fallen back to pre-war levels as supply normalizes, but markets still price in Fed hikes, implying a hawkish shift that the author argues is mispriced. He expects falling oil to reduce inflation and real interest rates, push the dollar lower, and lift gold and the S&P 500 after the next CPI release.
- Markets After the Oil Shock Robin J Brooks | Substack
- Oil Set for Fourth Straight Weekly Loss as Hormuz Flows Return Yahoo Finance
- Oil’s Supply Wave, Tumbling Prices Rekindle Fears of Global Glut Bloomberg.com
- Brent could fall to $60 a barrel by Christmas, forecasts Citi Financial Times
- Oil prices little changed as US-Iran peace efforts hold Reuters
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Read on Robin J Brooks | Substack