Of course it could at some point start hurting consumption but knowing at which (oil price) level that would be is the one million dollar question. |
Until now the oil rise does not seem to have had a major impact on markets. High oil has so far not seemed to erode global economic growth with trends elsewhere so powerful that the rise has been rather well absorbed. |
We've had quite a shining start of the year so the fundamental driver of markets will probably surprise on the positive side this year again. |