Oil Spikes & “Recession’s Handmaiden”

In the latest international response to Russia’s invasion of Ukraine, the U.S. will ban imports of Russian oil. As the conflict escalates, global oil prices are skyrocketing, and Again Capital’s John Kilduff points out that oil price spikes have historically preceded recessions. Global head of commodity strategy at RBC Capital Markets Helima Croft traces the ripple effects of the invasion through the global oil markets to gas pumps and the White House. CNBC’s Ylan Mui reports on congressional support for American sanctions on Russia, despite the cost for stateside consumers. Plus, the NFL has suspended Calvin Ridley for betting on games. 

 

In this episode:

Helima Croft, @CroftHelima

John Kilduff, @KilduffReport

Ylan Mui, @ylanmui

Joe Kernen, @JoeSquawk

Becky Quick, @BeckyQuick

Zach Vallese, @zachvallese