Economics and markets

How events in Ukraine change our economic views

March 04, 2022

Shaan Raithatha

Vanguard Senior Economist

Rising energy prices likely to weigh on growth and generate higher inflation
A first chart shows prices for both Brent and West Texas Intermediate crude oil futures rising from around $55 per barrel at the start of 2021 to just above $75 at the start of 2022 to March 2 settlement prices of $112.93 for Brent and $110.60 for West Texas Intermediate. A second chart shows prices rises rising from just above $90 since February 17, 2022, a week before Russia’s invasion of Ukraine, to the March 2 settlement levels.
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