🛢☄️💵A sharp jump in oil prices is fueling recession fears in the fuel market.

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The probability of a recession is rapidly rising: markets are currently pricing it at 36%, a figure that has risen sharply in recent weeks.
At the same time, the sharp rise in oil prices is adding pressure. Strategist Christina Hooper warns that oil prices at $120-$130 could plunge the US into recession, as rising energy prices will hit consumers.
❗️With oil prices already above $100, markets are becoming increasingly nervous, linking energy shocks directly to the growing risk of recession.
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Bloomberg Terminal✅