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If oil goes up to $ 150, the economy or the market will not be destroyed. Marko Kolanovic of JP Morgan predicts that the US economy is strong enough to handle oil prices as high as $ 150 a barrel.
“Further oil spikes could occur, especially given the situation in Europe and the war. We wouldn’t be surprised,” he told CNBC’s “Fast Money” Tuesday. “But it could be a short-lived spike and eventually, in a sense, normalize.” “We believe the consumer can handle oil at $ 130, $ 135, as happened between 2010 and 2014. The correct inflation level was basically that. So, we think the consumer can handle it.” Kolanovich stated whose basic assumption is that the US and global economy will avoid a recession.