$120 oil would be a nightmare for the global economy

Oil prices may rise to $120, impacting inflation and risking stagflation, warns analyst David Scutt from StoneX

David Scutt, Senior Market Analyst from StoneX, breaks down where oil prices could be heading, warning that persistently high energy costs could fuel inflation, slow economic growth and push markets towards a stagflationary environment.

With Brent already above $100 and Goldman Sachs warning of a potential move towards $120, Scutt explains the risks for consumers, businesses, equities and the wider global economy.