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Markets rally and oil prices dip as US president claims agreement will reopen Strait of Hormuz
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US producer inflation posts largest annual gain in 3-1/2 years as energy prices surge ReutersTrump's most tone-deaf comments on Iran and the economy, ranked CNNWholesale prices rose 1.1% in May, more than expected, on surge in energy CNBCTrump says ‘I love the inflation' as annual rate jumps to a 3-year high NBC News
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Oil prices jumped after the United States and Iran exchanged fire for a second day, heightening fears that the two countries could slide back into open conflict.
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The world economy is weakening as energy prices fuel a new bout of inflation.
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