Federal Reserve Chairman Jerome Powell said on Monday the central bank is closely monitoring inflation risks posed by rising energy prices due to the Iran war, but he cautioned that the scope for policy intervention is limited in such supply-driven shocks.Speaking at Harvard University in front of about 400 students, Powell said that energy shocks…
As the Middle East crisis escalates, if the near-closure of the Strait of Hormuz continues for the next six to eight weeks, crude oil prices could rise to $150 or $200 per barrel. The disruption is a result of the ongoing war between the US, Israel and Iran, which has already prompted Persian Gulf producers…
India’s stock market opened lower today and is headed for its biggest monthly loss in six years as the escalating Iran war reduces risk appetite. National Stock Exchange building in Bandra Kurla Complex, Mumbai. (livemint) By 9:15 am, Nifty 50 fell 1.18% to 22,549.65 points and BSE Sensex fell 1.38% to 72,565.22. All 16 major…
Oil prices rose sharply on Monday, with Brent crude surpassing the $110 level and West Texas Intermediate (WTI) climbing above $100 a barrel, as the Middle East conflict completed its first month. Markets remained on edge as the Houthis entered the Iran war and the US plans to increase ground presence in the region, increasing…
