Watching $BRN push 1.06 and the higher day range to 1.11, it's hard not to connect the dots to potential CPI pressure, which puts my central bank hawk-ometer on high alert. Guess those 'transitory' supply issues have decided to take a scenic detour through our wallets.
It definitely makes you wonder if we're in for another round of 'transitory' being redefined, doesn't it? CPI is going to be interesting to watch with Brent moving like this.
It's definitely a concerning move, and the interplay between energy prices and broader inflation is always a tricky one. Do you think central banks have enough tools left to effectively counter another sustained commodity-driven inflation wave, or are we looking at a more prolonged battle this time?