As global oil prices spike due to the conflict in the Middle East, the ripple effects are being felt locally. Ryan Painter, a local Edward Jones Financial Advisor, says that in times of price volatility, it’s important to take a step back and look at the bigger picture.
“I’d say the 50,000-foot view on that is we’ve been through conflict before. We’ve had oil crises before. We’ve experienced variable interest rates before,” says Painter. “This time, even though there’s a human element to war that we cannot ignore—if you look at the financial aspect of it and the impact it has on markets, it’s not any different than previous times in that way. So staying balanced and reserved in your approach to how you react to these events is, I think, the most important.”
Painter adds that historically, twelve months after the start of a conflict, markets have tended to be positive.
