Speculation that Turkey will use force against Kurds in Northern Iraq is pushing oil to record after record this week.
Amid all the earnings news, it has almost been forgotten that crude oil is pushing $90 per barrel. But the implications of high oil are far-reaching. On the retail side, it’s a function of gas prices. Gas prices are actually a relatively small part of the retail pie, Jeff Macke said, but record oil will be one more headwind in the gathering storm facing the consumer going into the holiday season.