If you have been monitoring the news lately, you might have read about how crude oil prices have gone to the moon. Drivers in Singapore might have also felt the pinch as pump prices in Singapore have been soaring in 2022. As of Thursday (10 March 2022), the cheapest petrol you can get (SPC 92-Octane grade petrol) will cost you $3 a litre! Although the price of the benchmark U.S. West Texas Intermediate (WTI) crude oil has fallen to about US$98.50 per barrel at the time of writing. But, The price of crude oil is still up 49.24% from when prices were around US$66 in early December 2021. Might this spike in oil prices trigger an economic downturn? Here’s what you need to know. Disclaimer: The information provided by Seedly serves as an educational piece and is not intended to be personalised investment advice. ​Readers should always do their...