The Economic Times

US oil prices finally explode, now up 10% as Trump demands Irans surrender could $100 crude ignite a new inflation shock across the U.S. economy?

US oil prices surged more than 10%, sending WTI crude near $88 and Brent crude close to $90 per barrel, the highest levels since 2024. The rally followed Donald Trumps demand for Irans surrender, which raised fears of a wider Middle East conflict. The Strait of Hormuz disruption now threatens global oil supply. Nearly 20% of the worlds oil shipments pass through this route. Analysts warn crude could soon hit $100 per barrel. Higher oil prices could push U.S. inflation higher again, raising risks for the U.S. economy, interest rates, and global markets.