The international oil price of over $120 d a barrel appears to be the new normal, at least for now.
With the Russian-Ukraine conflict raging on, nations are responding by imposing sanctions against Russia. The latest move by the US to ban Russian oil and other energy imports saw Brent crude spike above $130 a barrel yesterday.
There are concerns that a prolonged higher oil price will see economic growth prospects in Africa and the world stagnate, while inflation looms large.

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