Last month, the price of Brent oil reached USD 75, its highest level since 2014. Just over two years ago, the dollar cost of a barrel of oil was as low as USD 28. And just as the USD 85 drop in oil prices from 2014 to 2016 was central to the global economic and market environment then, the recent rise in oil has implications for investing today. In this Macro Monthly we examine why oil prices have been rising, what it means for the global economy, and implications for asset allocation.