Investors are shifting out of bonds and other assets exposed to inflation as global markets brace for prolonged disruption to energy supplies while war rages in the Middle East.
Kevin Warsh promised to overhaul the central bank and cut rates. He is being greeted by rising inflation, an oil shock and a confirmation in limbo.
Oil futures edged lower as traders eye President Trump's deadline to reopen the Strait of Hormuz.
President Donald Trump threatened to bomb Iran's power plants if the Strait of Hormuz isn't cleared for shipping traffic.
Oil prices rose on Monday after U.S. President Donald Trump and Iran threatened to attack energy facilities in the Middle East, escalating the war.
Oil prices look set to rise further on Monday, having closed before the weekend at their highest in nearly four years, after U.S. and Iranian threats to target energy facilities, analysts said on Sunday.
Emerging economies have been hard-hit by the war in Iran. Buy these markets on the dip.
It isn't just cars and airplanes. Oil is a key ingredient in thousands of common products.
Egypt will settle $1.3 billion in arrears to international oil companies by June, the petroleum ministry said on Saturday, accelerating its previous timetable for repayments.
It will be tough for Wall Street to rebound until energy prices subside. Value stocks and Big Tech could hold up well, though.
A bulletproof U.S. economy has shot past a series of shocks since the 2020 pandemic and grown for five straight years, but soaring oil prices tied to the Iran war have emerged as a potential trigger for recession.
Indian refiners plan to resume buying Iranian oil while refiners elsewhere in Asia are examining such a move after Washington temporarily removed sanctions to alleviate an energy crunch caused by the U.S.-Israeli war on Iran, traders said on Saturday.