spike oil prices

Language: en

📖 Definitions

  1. To cause the market price of oil to rise sharply and suddenly, often due to geopolitical events, supply disruptions, or market speculation.; To artificially or unexpectedly increase the cost of crude petroleum in global markets.

💬 Examples

  1. The announcement of new sanctions against major exporters threatened to spike oil prices above $100 a barrel.

  2. Analysts warned that any escalation in regional conflicts could spike oil prices, leading to higher inflation rates worldwide.