The Oil Price Paradox: When Black Gold Turns Red The global economy teeters on the edge of a slowdown as oil prices continue to climb, sending shockwaves through stock markets and threatening fragile stability.
Brent crude has risen 2. 4% to $US90. 62 per barrel, a stark reminder that even as economic growth falters, oil prices remain stubbornly high.
Higher oil prices typically drag on economic growth, yet in recent years they have been accompanied by an unprecedented boom in corporate profits.