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Oil price spikes throughout history: ‘Everything just cost more’

Oil prices are spiking, due to the U.S.-led war with Iran, and its ripple effects are being felt far beyond America’s gasoline pumps. Caleb Silver of People, Inc. and Investopedia unpacks oil price hikes from recent history to explain why we should all expect “an overall inflationary effect.” He warns, “We don’t know long it’s going to last.” MS NOW: My Source for News, Opinion, and the World. » Subscribe to MS NOW: https://www.youtube.com/@msnow MS NOW is the go-to destination for domestic and international breaking news, and best-in-class opinion journalism. For more context and news coverage of the most important stories of our day click here: https://www.ms.now/ #Oil #Oilprices #Iran

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Oil prices are spiking, due to the U.S.-led war with Iran, and its ripple effects are being felt far beyond America’s gasoline pumps. Caleb Silver of People, Inc. and Investopedia unpacks oil price hikes from recent history to explain why we should all expect “an overall inflationary effect.” He warns, “We don’t know long it’s going to last.” MS NOW: My Source for News, Opinion, and the World. » Subscribe to MS NOW: https://www.youtube.com/@msnow MS NOW is the go-to destination for domestic and international breaking news, and best-in-class opinion journalism. For more context and news coverage of the most important stories of our day click here: https://www.ms.now/ #Oil #Oilprices #Iran