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Global benchmark oil prices were pulling back from their highest level in nearly four years on Thursday afternoon after President Trump said he wouldn't send troops to the Middle East, helping to ease energy-market concerns about the Iran conflict.
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Attacks on major energy facilities in Iran and Qatar injected new uncertainty into the outlook for oil and gas prices.
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Attacks on oil and natural gas facilities this week could make it much harder for Persian Gulf countries to rebuild and restart production when the war eventually end.
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There's considerable damage being done below the surface of the stock market as oil prices surge, and no end in sight to the Iran conflict
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The central bank's so-called dot plot showed a median estimate of 3.4% for the federal funds rate, the same as at the end of last year.
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While fears about slowing economic growth have roiled stock markets in recent weeks, credit markets remain stable and bullish, and a recession hasn't materialized as some analysts predicted. Robin Greenwood discusses the market conditions that are buoying the economy—and risk signals to watch.
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