Crude oil futures fell on Thursday as worries about inflation overshadowed fears of a potential Iranian strike on Israel for the moment.urging oil prices may challenge the Federal Reserve’s inflation fightBig oil is racing to scale up carbon capture to slash emissions but the challenges are immenseJPMorgan says oil could rise to nearly $100 a barrel on Russia’s ‘surprising’ actions ahead of U.S.
Oil prices rose more than 1% Wednesday after Bloomberg News reported that the U.S. and its allies see an Iranian strike against Israel as imminent., released Thursday, was lower than expected, but on a 12-month basis, the gauge of producer prices climbed 2.1%, which was the biggest jump it's logged since April 2023. The increase suggests inflation could stay elevated.
Lower interest rates typically stimulate economic growth, which fuels crude oil demand. Stubborn inflation is also raising questions about whether the U.S. economy will clinch a soft landing this year.Crude oil showing signs of a breakout as it tops $80. What traders say happens nextCommodities are always the best play at this point in the business cycle, says Carlyle's Jeff Currie