Comment on Inflation is finally cooling — but the Wagner Group's attempted mutiny in Russia may send it back up, analysts warn

Inflation is finally cooling — but the Wagner Group's attempted mutiny in Russia may send it back up, analysts warn

Wagner mercenary group founder Yevgeny Prigozhin and Russian President Vladimir Putin.Mikhail Svetlov/Getty Images/Contributor Oil prices spiked more than 1% on Sunday after the Wagner Group's attempted mutiny. Analysts say oil prices could continue to gain on the geopolitical risks in energy giant Russia. Historically, such events in major oil producers have increased prices by an 8% in the five days after they started, wrote Rystad Energy's Jorge Leon. The Wagner Group's attempted mutiny against Russian President Vladimir Putin's regime was aborted — but the energy markets are already on alert, throwing a spanner into inflation that has just started showing signs of cooling.Following the aborted coup over the weekend, benchmark crude oil US West Texas Intermediate and Brent crude oil futures both jumped over 1% on Sunday.

 

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