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The largest-ever release of oil from the International Energy Agency's emergency stockpiles lifted prices for the commodity up by more than 5% on Wednesday.
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CPI Report Live Updates: Inflation Report Offers Snapshot on Economy Before War With Iran The New York TimesConsumer prices rose 2.4% annually in February, as expected CNBCLive: Analysis of US CPI Report for February BloombergUS consumer prices likely increased in February ahead of Iran conflict ReutersCPI holds steady before new inflation worries from Iran war Axi
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European Commission president Ursula von der Leyen mulls measures to ease impact of Iran war shocks
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Dow falls 300 points despite record emergency oil reserves release: Live updates CNBCWhy Oil Prices Are Still Higher Despite the Record IEA Oil Reserves Release Barron'sStock market today: S&P 500 and Nasdaq rise, Dow slips amid fresh inflation data, continued Iran fallout Yahoo FinanceUS stock futures tick up ahead of CPI data; traders assess Iran war outlook Investing.com
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Reaction reflects possibility of sustained supply disruption and prolonged surge in crude prices
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Gas prices don't move in lock step with crude, usually trailing increases or drops by a few days.
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The planned release by members of the International Energy Agency is the largest such coordinated action on record.
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Treasury yields were edging up Tuesday, but traded below levels seen Monday when inflation fears tied to oil's surge were rising.
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Prices are up 21% from a month ago with the oil market roiled by the U.S.-Iran war.
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American and Israeli airstrikes in Iran closed a critical shipping lane. U.S. businesses and consumers brace for pain at the pump.
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