Energy prices, which have skyrocketed in recent days, could remain high in the coming months, but will begin to decline in early 2022, Gita Gopinath, chief economist at the International Monetary Fund, said in an interview with the International Monetary Fund on Tuesday. AFP.

 

While energy prices "will be elevated" for the next few months "we expect them to go down again by the end of the first quarter of next year and in the second quarter", Held.

 

"Once we pass the winter months (boreal), we will be better"Gopinath said.

 

World oil prices spiked to record highs on Monday due to strong demand and tight supply, causing major equity markets to crash.

 

West Texas Intermediate oil for November delivery traded above $ 80 a barrel for the first time since October 2014, while London Brent oil jumped to a three-year high at $ 84.59.

 

WTI rose on Tuesday, although Brent fell slightly.

 

That rise in energy prices raised fears that inflation could rise further and hamper the global economic recovery from the recession caused by the pandemic.

 

Gopinath warned that weather will play a role, as a severe northern winter could lead to longer-range power outages and blackouts. "that will have a much greater effect on the world".

 

.

LEAVE A REPLY

Please enter your comment!
Please enter your name here