By Ali Wolf | Builder
When it comes to oil and the future of the housing market, it’s a slippery situation that’s only getting slicker as supply chain issues and Russia’s invasion of Ukraine drive prices higher.
The direct effect on the market will depend on how high prices go and for how long. We do know the general direction of travel—in the last quarter of 2021, crude oil reached a near-decade high.
It only went higher from there, reaching $123.20 in early March for a barrel of West Texas Intermediate and hovering above the $100 range since. That’s double the trading cost in August.
