UBS On-Air: Paul Donovan Daily Audio 'Up we go again'

Oil prices have risen above $110 per barrel, with markets and politicians generally focusing on round numbers. The small increase itself has limited impact, but the change still carries potential consequences. The US government is highly sensitive to rising oil prices, and US retail diesel prices remain near historical highs. Investors may focus on whether rising oil prices will prompt the US to make concessions to Iran, or push central banks to take more aggressive action.