US West Texas Intermediate crude oil prices have returned to the $100 per barrel mark for the first time since May. The oil price climb, combined with escalating Middle East tensions, has pushed global energy prices and US long-term Treasury yields higher in tandem, prompting markets to reassess inflation risks and the trajectory of monetary policy.
Brent crude oil prices broke through the $100 per barrel mark on July 23, rising over 5% in a single day for the first time since May. Escalating tensions in the Middle East and threats to Red Sea shipping have sharply increased concerns about global energy supply disruptions.
Summary US President Trump issued his sternest public warning yet to Iran, threatening to strike Iran’s oil infrastructure and posting on social media that he would hit the country “very hard tonight.” The statement has drawn deep international concern about further escalation in the Middle East and global energy supply security. Details According to Politico, Trump posted an strongly worded statement on social media threatening to “take Iran’s oil infrastructure” and emphasizing in capital letters that he would hit the country “very hard tonight.” This statement was seen as a major escalation in US pressure strategy toward Iran. ...