Iran, Trump and Israel
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The run-up in crude futures paused on Monday, with prices falling more than 1% on signs that Iran wants to end hostilities with Israel and resume nuclear talks. U.S. crude oil lost $1.21, or 1.66%, to close at $71.
Oil prices have risen in response to the Israel-Iran war, bringing them nearly back to the levels where they traded before the Liberation Day tariffs were announced on April 2. Oil stocks are trailing well behind.
JPMorgan fears crude oil could hit a high of $130 a barrel, causing U.S. inflation to return to 5% in a worst-case scenario.
By David Ljunggren, John Irish and Jarrett Renshaw KANANASKIS, Alberta (Reuters) -Group of Seven leaders met on Monday seeking a common approach on wars in Ukraine and the Middle East but before their summit formally began,
A sustained surge in oil prices is likely to complicate the U.S. fight against inflation. A $10-a-barrel increase would boost year-over-year growth in the Consumer Price Index by 0.5 percentage points,
A sustained rise in the price of crude oil, which jumped sharply after Israel attacked Iran, could hurt consumers and President Trump’s efforts to bring down energy costs.
The Mirror US on MSN2d
Former White House official issues six-word warning as oil prices soarA former White House official issued a chilling ultimatum to Donald Trump's administration as oil prices continue to rise in the US
Most countries in the Group of Seven nations are prepared to go it alone and lower the G7 price cap on Russian oil even if U.S. President Donald Trump decides to opt out, four sources familiar with the matter said.
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