2/2 When that happens, the effects show up quickly: higher costs for fuel and goods, reduced consumer spending, and slower economic growth that can tip into recession.

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1/2 An oil shock is a sudden, sharp change in the price of crude oil, typically a spike large enough to ripple through the broader economy. Economists measure it as any quarter where oil prices exceed their peak over the previous 12 months.

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Just 15 per cent think “you know what, seems reasonable that if the people of Clacton are fine with it, it’s none of my business”.

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Calling a trade truly astonishing is doing more work than the trade itself. Every deal is astonishing for 48 hours, then it is just the roster.

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Jim Dolan has a bigger scouting department for Taylor Swift's wedding guests than the Knicks have for actual point guards.

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