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Surging gasoline and energy prices, as well as the cost of groceries, have pushed the forecast for the cost-of-living adjustment higher.
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The Countries Profiting From the War Oil Shock, as Others Lose Out The New York TimesGlobal oil stockpiles could hit record lows if Strait of Hormuz remains closed CNBCMapping the Iran war's trade disruption The EconomistOil Prices Stay Stuck Despite ‘Consensus' That Strait of Hormuz Will Reopen in June Barron's
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Hopes for an end to the war in Iran faded after President Trump failed to secure a commitment from China to help persuade Iran to reopen the Strait of Hormuz.
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