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January 18, 2022

Oil prices at almost USD 100 a barrel

Oil price has risen to within reach of USD 100 a barrel for the first time since the 2008, CNN informs. But the sharp rise has also heightened concerns about the impact of soaring commodity prices on the global economy, particularly in emerging countries, as it comes on top of high costs for agricultural commodities and metals. The oil surge also comes on the back of supply disruptions such as this week’s outage in a pipeline in Alaska and strong investor inflows in commodities.

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