Brent Crude Drops 3.3% to $91 After Iran War Spike
Oil fell back to $91.14 a barrel June 9 after briefly topping $98 the day before. Strait of Hormuz deal hopes ease fuel costs for fleets.
#Interest Rates
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PCE Inflation Jumps to 3.8% in April, Highest Since May 2023
The Fed's preferred inflation gauge rose three-tenths of a point in a month as fuel prices continued to climb.
Diesel Hits $5.66, Brent Crude Jumps to $108 on Iran Supply Shock
Strait of Hormuz closure drives Brent crude to $107.97, up from $70 pre-war. Diesel near record high as bond yields climb and Fed rate-cut bets evaporate.