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Oil prices spiked on Thursday, with investors rushing into resources on supply concerns, in a bad sign for already-high global price pressures.

Jerome powellRahul kalantriJames knightleyRavindra raoInternational economistInflation oilHead of commodity research at kotak securitiesOil fliesOil flies pastGrim omen for inflationCommodity researchVice presidentWall streetReserve chair jerome powell wednesdayChief international economistGlobal market