U.S. presidents have long been made by their advisers to understand the dangers of benchmark oil prices staying above the US$75-80 per barrel (pb) level for extended periods of time. As the Brent and West Texas Intermediate (WTI) benchmarks continue to spike back above that level – and threaten a sustained move even above US$90 pb – there will be renewed pressure on President Joe Biden to act to bring oil prices down to below the ‘danger’ levels.
The danger for a U.S. president in oil prices being above these levels for…Biden Desperately Needs To Bring Oil Prices Down
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