Oil Prices Near Tipping Point That Could Hit Stocks
Evercore’s Roger Altman warned Monday that a sharp rise in crude could destabilize markets and trigger a second major inflation shock after COVID. He said prices climbing toward $150 a barrel or higher would pose the greatest risk.
MarketWatchEvercore senior chairman Roger Altman said Monday that the oil market is approaching a tipping point that could create problems for stocks. Altman made the comments during a CNBC interview. He stated that a sharp rise in crude could destabilize markets before it may trigger the second big inflation shock of this decade after COVID.
The former Treasury official said prices climbing toward $150 a barrel or higher would pose the greatest risk. He added that such levels would exceed the pressures seen during the post-COVID period. Altman did not specify an exact timeline for when prices might reach those levels. He focused instead on the potential market effects if the increase occurs.
The remarks come as oil prices have shown recent volatility. Altman linked higher crude costs to broader economic pressures that could affect equity markets. No other specific forecasts or data points were provided in the interview.
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Potential Impact
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Higher oil prices could increase costs for companies and consumers.
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