The price of Brent crude rose to a six-month high on Friday, a potential dose of bad news for central bankers and for the White House.

The price of Brent crude, the global oil benchmark, is booming again as geopolitical concerns rise.Turar Kazangapov/ReutersOil spike ripples through global markets

The price of Brent crude rose again on Friday, at one point topping $91 a barrel. Growing tensions in the Middle East have pushed the global benchmark to levels last reached in October.

That poses a potential problem for President Biden ahead of the election and raises new questions about when the Fed will start cutting interest rates.

Some analysts believe the oil rally is just beginning, creating a fresh inflation risk for central bankers who are struggling to keep price-increases in check. JPMorgan Chase forecast last week that oil would climb above $100

Keep reading this article on Andrew Ross Sorkin – Author New York Times.

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