The Bank of England warns that high UK inflation, potentially reaching 4.1%, is primarily threatened by the Middle East conflict's impact on oil prices, not domestic pressures. Despite current stability, the MPC fears future wage and price increases if the conflict persists, potentially necessitating interest rate hikes.
UK petrol prices have reached 160p per litre, their highest point since the Iran war began, as the conflict continues to disrupt oil supplies and drive up wholesale costs. Diesel prices are also rising, with experts predicting further increases, despite a government scheme and postponed fuel duty.
Middle East conflict drives oil price spike above $4/gallon; expert Bob McNally cites structurally escalation-prone dynamics, depleted strategic stocks, and China's rebounding oil imports as factors leading to potentially record-high gasoline prices.
The House approved a non-binding resolution to remove U.S. forces from the war in Iran as the conflict escalates and oil prices jump. The newsletter also covers new tariffs, a fatal police shooting in Madison, and avocado oil adulteration.
U.S. Treasury yields slid on Friday, with the 10-year note dropping over 2 basis points, as oil prices declined following reports of Pakistan exploring U.S.-Iran peace talks. This occurred amidst President Trump's consideration of a "massive attack" on Iran.
Oil prices dropped after reports emerged that Pakistan, backed by China, is seeking to restart talks between the U.S. and Iran. This comes as U.S. forces continue strikes on Iran-linked targets and former President Trump threatens a "massive attack" on Iran, further escalating Middle East tensions.
Bitcoin dropped below $65,000 as rising oil prices, fueled by Red Sea tanker attacks and US threats against Iran, pushed Treasury yields higher and triggered a broader retreat from risk assets, impacting spot demand and ETF flows.
Brent crude surpassed $100 a barrel after Houthi attacks on Saudi oil tankers, escalating Middle East tensions and prompting a US warning to Iran. This fueled inflation fears, driving Treasury yields higher and causing a market sell-off, while tech stocks experienced volatility due to AI spending plans and regulatory fines.
Donald Trump stated he is close to deciding on a "massive attack" against Iran, larger than previous strikes, as oil prices surge and regional tensions escalate. This follows US strikes on Iran and Houthi attacks on Saudi oil tankers, prompting diplomatic withdrawals and UN warnings of a region on the "edge of the unimaginable."
Oil prices exceed $100/barrel as US-Iran tensions escalate. Trump threatens broader military action against Iran, citing insufficient 'pain' inflicted, while the UN warns the Middle East is 'teetering on the edge of the unimaginable'. US deploys special operations forces and weapons to the Middle East.
Houthi attacks on Saudi oil tankers in the Red Sea, following their declaration of a naval blockade, have pushed Brent crude prices above $100 a barrel. Experts are monitoring which vessels the Houthis allow passage, particularly Chinese-owned ones, to gauge future market trends, while diesel prices are also impacted by Russian export bans.
Japan's core inflation hit 1.6% in June, driven by higher oil prices and a weak yen, marking the first rise since March. While government subsidies cushioned energy costs for consumers, businesses face surging expenses. The Bank of Japan is reportedly on alert for faster rate hikes amid persistent inflationary pressures.
US President Donald Trump threatened "major military punishment" for Iran and its Houthi allies after Houthi fighters struck two Saudi oil tankers in the Red Sea, extending the Middle East conflict. The attacks, coupled with US airstrikes on Iran, sent global oil prices surging and raised fears of a wider economic downturn.
Oil prices surged above US$100 a barrel amid US President Trump's threat of a "massive attack" on Iran and a Houthi blockade. The Commonwealth Games opened in Glasgow, while Australia faces domestic issues including an Origin Energy data hack and Labor party dissent.
Houthi rebels claimed attacks on two Saudi oil tankers in the Red Sea, causing Brent crude to rise above $100/barrel and US crude to nearly $92/barrel. This marks a widening of the Iran-related conflict, impacting global oil markets and US gasoline prices.
Crude oil prices surpassed $100 a barrel, driven by new threats to Red Sea shipping from Yemen's Houthis, escalating the Middle East conflict. This surge is expected to lead to higher gas and diesel prices, impacting airline stocks and mortgage rates.
U.S. stock indexes tumbled as investors priced in a prolonged Middle East conflict, with Brent Crude futures topping $100 and 10-year Treasury yields exceeding 4.7% after new attacks on tankers, raising concerns about inflation and borrowing costs.
Investors are increasingly anticipating a Federal Reserve interest rate hike, with September odds at 82%, as Brent crude hits $100/barrel due to US-Iran tensions and US jobless claims drop to a 1969 low, bolstering inflation focus over labor market health.
Australia's car market is being reshaped by surging Chinese EV sales, while US stocks face volatility from tech spending concerns and rising oil prices due to Middle East conflicts. Australian small businesses are under pressure, and the US has imposed new tariffs on Australian exports, adding to economic uncertainty.
Kirill Dmitriev, Russian Presidential Special Representative and CEO of the Russian Direct Investment Fund, predicts humanity will witness the highest oil prices in history due to an impending energy crisis, as Brent crude surpassed $100 per barrel.
Oil prices jumped after reported tanker attacks in the Red Sea and President Donald Trump threatened a major strike on Iran. Brent crossed $100 a barrel as traders priced in rising supply risk from the Middle East.
The newsletter argues that a wider disruption to Iranian oil flows could push crude sharply higher, with risks also building around the Bab el-Mandeb Strait and the Red Sea. It also highlights Iraq investment plans and bullish calls on several energy names.
U.S. Treasury yields, including the 10-year note, advanced significantly as Brent crude surpassed $100/barrel due to Middle East tensions, fueling inflation fears. This, coupled with weekly jobless claims falling below 200,000, increased expectations for a Federal Reserve interest rate hike.
Oil prices surged to $100 per barrel following renewed US and Iranian attacks in the Gulf and Houthi rebel strikes on Saudi oil tankers in the Red Sea. This escalation threatens key shipping routes like Bab el-Mandeb, potentially doubling the blow to global energy markets after the Strait of Hormuz crisis and leading to higher consumer fuel costs worldwide.
