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Last updated: July 14, 2026, 11:30 AM ET

Middle East Tensions Drive Oil Prices Higher, Fueling Inflation Fears

Oil futures as renewed attacks in the Strait of Hormuz threatened supply lines. Brent crude, the international benchmark for the first time in a month amid escalating hostilities. This surge in energy prices has reignited inflation concerns, prompting traders to from the Bank of England and European Central Bank. U.S. natural gas futures, however as inventories remained well above average and LNG demand softened due to terminal maintenance. China urged for normal passage through the Strait of Hormuz as the U.S. reinstated its blockade on Iranian ships.

Inflation Data Cools, Easing Pressure on the Federal Reserve

U.S. consumer prices declined in June for the first time in six years,