Crude oil prices have surged to $105 a barrel as tensions between the US and Iran escalate, raising concerns about prolonged inflation. The conflict has effectively closed the Strait of Hormuz, disrupting oil and gas supplies to global markets.
Watch for potential shifts in energy policy as governments respond to rising oil prices. Consumers should prepare for higher energy bills and consider the impact on mortgage rates. Keep an eye on inflation trends and bond yields, as they could influence economic stability.