- Stock market sell-off may follow if oil prices stay above $90, says JPMorgan.
- High oil prices will drive inflation and interest rates, expert explains.
- Bitcoin won’t thrive if stagflation hits US economy, analyst warns.
Oil price rises that drive the cost of a barrel of Brent crude to $120 could hurt Bitcoin’s chances of staging a recovery to October’s $126,000 all-time highs, an expert has warned.
The US-based financial group JPMorgan’s banking arm told its clients on Friday the war in the Middle East may leave oil prices sitting above the $90 per barrel mark for an extended period, and pushing toward the $120 mark. Brent prices rose over 3% on Friday, trading for almost $104 a barrel at the close of trading in the US.
This could…
