Oil reportedly back above $100 a barrel amid fuel-shortage warnings

The Kobeissi Letter said on September 19 that oil was back above $100 a barrel amid record diesel prices and a global fuel shortage. It also said another Fed rate increase was expected by year-end. Separately, a post relays Philip Pilkington’s argument that Washington spent weeks suppressing the market instead of allowing gradual price increases that would have encouraged consumers and businesses to adjust. The post describes his forecast of pandemic-like supply-chain disruption driven by physical fuel shortages.