CME FedWatch data shows a 38% probability of a Federal Reserve rate hike next week, up sharply from 12% seven days ago, as crude oil crossing $100 adds to already-elevated US inflation.
Tag: oil
Posted inGeopolitics
Trump Threatens Iran’s Bridges as US Strikes Enter Their 12th Consecutive Night
US forces struck Iranian military targets for a 12th consecutive night as President Trump threatened to destroy bridges and power plants each time Iran attacks a vessel in the Strait of Hormuz.
Posted inMarkets
Brent Hits $91 as Houthi Blockade Adds Second Strait to Oil Supply Threat
Brent hit $91.05 on July 21 as the Houthi naval blockade of Saudi Arabia threatened to close the Bab al-Mandeb, adding a second oil chokepoint to the Red Sea supply crisis.
Posted inEconomy
Brent Tops $87 as Iran Escalation Refuels Global Inflation Fears
Brent crude settled at $87.20 on July 17 as renewed US-Iran strikes removed the prospect of near-term Hormuz relief, complicating the inflation outlook for the Fed and ECB at a moment when rate decisions hang on energy costs.
Posted inWorld
Iran Shuts the Strait of Hormuz and Imposes a Toll Regime on Shipping
Iran formally closed the Strait of Hormuz to foreign shipping on July 12, demanding toll payments and regime-approved routing as U.S. gas prices hit $3.87 per gallon and diplomatic options narrowed.
Posted inMarkets
Brent crude tops $78 on fresh US strikes as Trump weighs targeting Kharg Island
Brent crude settled above $78 a barrel on Wednesday, up more than 5%, after the US launched a second day of strikes on Iran, the US Treasury revoked Tehran’s oil sanctions waiver, and Iran threatened to close the Strait of Hormuz.
Posted inEconomy
US Treasury issues 60-day Iran oil licence as Brent falls 3.5% and Hormuz traffic recovers
Washington granted Iran a 60-day oil export waiver on June 22, pushing Brent crude below $78 as Strait of Hormuz traffic climbed back toward pre-war levels.
Posted inGeopolitics
Ukraine strikes Tyumen refinery 2,000 km inside Russia with new drones
Ukraine hit an oil refinery in Russia’s Tyumen Oblast on June 20, over 2,000 km from the border, as Zelenskyy disclosed new drones with a 3,000 km range capability.
Posted inMarkets
Oil rebounds toward $80 as Iran-US talks in Geneva collapse without a signing
Brent crude settled near $80 on June 19 after Washington pulled Vice President Vance from planned Iran talks in Switzerland, reviving uncertainty over whether the 14-point ceasefire deal will hold.
Posted inEconomy
The Iran deal’s oil shock reversal tests central banks on both sides of the Pacific
With the US-Iran ceasefire removing the energy shock that has driven global inflation since February, the Bank of Japan and the US Federal Reserve face their pivotal June decisions in a changed landscape.