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Oil prices moved higher Friday, with global benchmark Brent crude on track to tally a fifth-straight weekly gain, after the Pentagon said it is sending more troops and warships to the Middle East — the latest sign of escalation in the conflict that started nearly three weeks ago.
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Higher oil prices resulting from the U.S.-Israeli war in Iran are dashing hopes for any interest-rate cut by the Federal Reserve this year and even leading to growing chances of a rate hike.
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If oil prices stay high for months, they could bleed through to other prices, Fed governor Christopher Waller said Friday.
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Work from home, drive slower and don't use gas cookers: IEA advice on weathering the global energy crisis CNBCPeople urged to work from home in global oil crisis The TelegraphNew IEA report highlights options to ease oil price pressures on consumers in response to Middle East supply disruptions IEA - International Energy AgencyWork From Home, Carpool and Fly Less to Combat Soari
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This spring's housing market is on, but economic headwinds are pushing back most of the advantage that buyers have gained over the past year in affordability.
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