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•78% Informative
Fed faces familiar nemesis as it tries to pilot the economy into a rarely-seen soft landing: rising oil prices.
Surging energy costs played a role in tipping the US into recession in the mid-1970s , as well as the early 1980s and 1990s .
Driven by cutbacks in supply by Saudi Arabia and Russia , oil prices have surged by almost 30% since June .
Even if Saudi Arabia and Russia relax their supply curbs in early 2024 , oil inventories will be severely depleted, IEA says.
The US Strategic Petroleum Reserve has also been run down by massive sales after Russia ’s invasion of Ukraine .
That leaves government officials and investors alike hoping the rise in oil prices will soon short-circuit.
VR Score
84
Informative language
85
Neutral language
57
Article tone
formal
Language
English
Language complexity
51
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
1
Source diversity
1
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