$70 WTI Crude Oil Ceiling Akin to 3% CPI - Crude oil and the consumer price index might be reverting to 2019 levels, with the potential for accelerating momentum. The year before the pandemic distortion, WTI crude and the CPI averaged $57 a barrel and 1.8%. My graphic shows crude and CPI potentially shifting what was support at around $70 and 3% to resistance on the back of the 2022 peaks Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/tae9iekgctfl {BI COMD} #crudeoil #inflation @markets(Mike McGlone)