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Oil hits four-week high as Gulf tensions flare | Morning Bid
Posted
July 14, 2026
Views
1,787
Likes
40
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4
Engagement
2.46%
July 14, 2026
1,787
40
4
2.46%
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7:49Now PlayingA fresh escalation in the Gulf, with Iranian missile attacks on shipping and a U.S. blockade declaration, pushes oil sharply higher and overshadows today's U.S. inflation report. Headline CPI had been forecast to fall below 4%, but with oil re-accelerating, that backward-looking relief may already feel like a moot point. Fed Governor Christopher Waller says core inflation is simply "too high," and markets are now pricing almost a 50% chance of a rate hike as soon as this month. Plus, Fed Chair Kevin Warsh faces Congress for the first time later today.
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