Economics

Here's What Oil at $70 Means for the World Economy

Oil Prices to Rise Exiting Iran Deal, Says Sanford C. Bernstein's Beveridge

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Enda Curran, Rich Miller, and Michelle Jamrisko

May 9, 2018 at 10:04 AM UTC

Updated on

May 10, 2018 at 1:57 AM UTC

This article is for subscribers only.

Rising oil prices are a double-edged sword for the world economy.

With the price of crude up about 18 percent this year and now trading at the highest since 2014, exporters of the fuel get to enjoy a windfall while consuming nations get hurt.