Volatile oil prices will not help countries meet inflation targets

Oil prices seem to have levelled out

When an international conflict starts making headlines, oil prices soon make them as well. It has been no different this year as the conflict between Israel and Iran escalated with the US' involvement, causing a massive fluctuation in the cost of black gold.

Brent crude, the international oil benchmark, climbed to over $81 a barrel at opening on 23 June, the highest level in five months, according to data from MarketWatch. Fundsmith Equity ditches Brown-Forman after decline in stocks since the beginning of the year On the same day it fell to $78, still up 1% on the previous day before closing at $71.48, the largest one day decrease since August 2022. At time of writing, oil barrels were hovering at just below $67 each. Inflation has also been a popular topic of conversation. While not as high as in 2022 in the US, inflation is still...