MenuThe announcement that Washington and Tehran have agreed to end hostilities and restore commercial access to the Strait of Hormuz has had a massive impact on markets. Crude futures dropped sharply. Read the full article here.
Tag Archives: Oil Prices
Even For Americans, In A War, Energy Independence Has Its Limits
Oil prices collapsed from $119.54 in the Asian intra-day trade on March 9th to $89.88 on April 17th, after Iran announced that, following a ceasefire in Lebanon, it would keep the Strait of Hormuz open for the duration of the ceasefire. While no one knows exactly what will happen next as far as the conflict goes, it is
Rising Oil Prices Fuel Inflation And Threaten Biden’s Re-Election
The world economy has mostly recovered from the COVID-19 pandemic, but nonetheless, US inflation remains well above the desired 2% threshold at an estimated 3.7% in August. Core inflation for the year 2023 is expected to be 4.3%. It is possible that the Fed would need to apply another rate hike to drive inflation down,