The oil crisis is about to get physical - Paul #Krugman

Uncertainties: We don’t know how much #oil will manage to escape the Gulf and how high must prices rise to choke off a given amount of demand?

If oil really does go to $200 or more, it’s all too easy to envisage a full-blown global economic #crisis, with an inflation surge and quite likely a #recession.
https://paulkrugman.substack.com/p/the-oil-crisis-is-about-to-get-physical