Oil prices have climbed back above $90 a barrel in recent days to their highest levels in 10 months. The rise has sparked fears of resurgent inflation that could damage a global economy that has proven surprisingly resilient.
Why are oil prices rising?
Better than expected economic conditions in big energy consuming economies such as the US have helped to drive new records for global oil demand in 2023, with the world expected to consume an unprecedented 101.8mn barrels a day this year.
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