Oil prices surge 18.5% after Iran conflict — will the Strait of Hormuz crisis push inflation higher and delay Fed rate cuts? Prep for COVID-era rising gas prices now

The Times of India - 5 Mart 2026

Oil prices surge 18.5% after Iran conflict — will the Strait of Hormuz crisis push inflation higher and delay Fed rate cuts? Prep for COVID-era rising gas prices now

Oil prices jumped 18.5% this week. Brent crude hit $84. WTI crossed $78. The surge follows the Iran conflict and rising Strait of Hormuz tensions, a route carrying about 20% of global oil supply. Markets fear tanker disruption. That risk alone lifts prices fa…

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