Oil’s historic price surge in 2008 will look like ‘child’s play’ compared with the expected copper boom by 2025, Citi says

When Russia invaded Ukraine early last year, the subsequent supply-chain chaos and Western sanctions caused a spike in oil prices that consumers worldwide felt almost immediately. In the U.S., the rising cost of crude pushed the average price of a gallon of gasoline from $3.40 in January to a record high of just over $5 by June. But since then—amid a weaker-than-expected post-COVID recovery in China, which has impacted crude demand—oil and gasoline prices have fallen back toward prewar…