Stephanie Yang and Alison Sider, WSJ, wonder if higher energy prices will slow the economy here…
“Yet even with the economy chugging along, rising oil prices dredge up fresh concerns. If crude continues to move higher, it could begin to stifle economic growth. Higher consumer prices for gasoline and other energy products act like a tax, while pushing inflation higher and increasing pressure on the Federal Reserve to raise interest rates more aggressively.”
They include some interesting charts including this one showing a long term chart of the WTI/Brent spread:

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