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Is the global economy about to collapse?? Will history repeat itself??
The most dangerous scenario in history is not oil prices rising continuously, but oil prices first surging to hurt the economy, then suddenly turning downward.
It was like that in 2008, and again in 2020.
When oil prices fall from a high level, on the surface it looks like inflationary pressure is easing, but in reality demand may have already been destroyed.
Now $WTI is in a similar position again.
May 18