Oil-Price Rise May Be ‘Negative’ for U.S., MKM’s Darda Says

A bigger jump in oil prices, driven higher by tensions with Iran that are threatening supplies, may hurt U.S. economic growth, said Michael Darda, chief economist at MKM Partners LP.

“A supply shock is a negative,” whereas price gains caused by a pickup in demand would be less of a concern, Darda said today in an interview with Kathleen Hays on Bloomberg Radio’s “The Hays Advantage.” He said “this is mostly a supply shock” that may reduce economic growth by “a couple of tenths” of a percentage point.