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Crude oil prices edged higher after tumbling on Thursday, when U.S. West Texas intermediate slid back below $110 per barrel after topping as much as $130 a barrel in recent sessions. Still, gas prices at the pump rose to fresh highs. "The inflation fire was already hot and now with war-driven inflation added to the mix, it will grow even hotter, setting off a scramble by the world’s central banks to pull back their stimulus earlier than expected," Chris Rupkey, chief economist at FWDBONDS, wrote in an email. "A spike in inflation rates has preceded economic recessions historically and this time prices have soared to levels that once again pose a threat to growth." As the war in Ukraine rages, the messaging app Telegram has emerged as the go-to place for unfiltered live war updates for both Ukrainian refugees and increasingly isolated Russians alike. Ukrainian President Volodymyr Zelensky said in a video message on Tuesday that Ukrainian forces "destroy the invaders wherever we can." "The result is on this photo: fiery 'greetings' to the invaders," the Security Service of Ukraine wrote alongside a photo showing several military vehicles among plumes of black smoke.
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