The collapse of Iran peace talks has triggered a new surge in oil prices, slowing the recent momentum of the U.S. economy. Brent crude, the global benchmark, reached the mid-$80s per barrel after a spike driven by geopolitical tensions. This rally has renewed concerns over gasoline costs and inflation, with potential impacts on economic growth and market sentiment in the United States. Markets now price a 9% probability of oil reaching a new all-time high by September 30, and 19% by December 31, reflecting growing uncertainty about future supply stability.
Source: Read the original article
