Oil prices are closely watched because:
A) they hurt automobile owners.
B) they affect inflation directly.
C) of their impact on stock markets.
D) of their immediate impact on subsidies and taxes.
E) they affect inflation both directly and indirectly.

Question

Quizplus · Accepted Answer

Oil prices can affect inflation directly due to the cost of transportation and production, as well as indirectly by impacting the prices of goods and services that rely on oil. Additionally, fluctuations in oil prices can have a significant impact on the stock market and global economy.

Oil Prices Are Closely Watched Because