The ongoing conflict involving Iran has led to significant increases in food and energy prices, contributing to rising living costs for households worldwide. U.S. inflation saw a year-over-year increase of 3.4% in July 2026, with energy prices climbing 14.7% and gasoline prices surging 24.6%. Crude oil prices remain at elevated levels, with Brent crude around $89 per barrel and WTI between $82 and $83. The market reflects a 13.5% probability of crude oil reaching a new all-time high by December 31, driven by heightened geopolitical tensions in the Middle East.
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