Oil prices are marching closer to $100 per barrel
CNN
Oil prices have been climbing ever since the global economy started to recover from Covid-19. Now, as the United States warns that Russia could imminently invade Ukraine, they're pushing even higher.
What's happening: Brent crude futures, the global benchmark, rose above $96 per barrel on Monday before falling back slightly. Prices, which are now near their highest level since 2014, could weigh on economic growth and make the world's inflation problem even worse.
Millions of Americans have taken to the skies, hit the road, fired up the barbecue grill and jumped into the pool this weekend to celebrate the start of summer 2024. Analysts are expecting the Memorial Day weekend to usher in yet another summer of strong consumer spending on travel and other leisure activities.