We did have a nice rally at the open. It's all but disappeared. Uh crude is now moving up.It was lower. The market liked it. Now crude is higher.Moving back towards 97 a barrel. Uh Weiss. I mean this seems pretty pretty obvious at this point.Stocks are going to have a hard time finding the footing that I suggest they're looking for. As long as the straight of Hormuz uh remains effectively closed, despite efforts by members of the administration to ease concerns about that, there are plenty of concerns and t ...

European governments are rushing to stem rising energy and food prices as the Middle East war threatens another wave of inflationary pressure https://t.co/jWvarJPmH1 ...

All right, now for a closer look at this morning's CPI number and implications for the Fed. We want to bring in former Cleveland Fed President Loretta Mester. She's a senior scholar at Princeton's Griswald Center, adjunct professor of finance at UPens's Wharton School, and the CNBC contributor.And Loretta, did the number today change anything about how you see the economy. It was pretty much in line in many ways. >> Yeah, I mean, it didn't really change anything for me.It came in along expectations which wa ...

It is the 10th day of the war in Iran, and here is where things stan Eight United States service members have lost their lives. Earlier this afternoon, the Pentagon confirmed that 140 service members have been injured. The average price of gas is $3 .54 a gallon, the highest since Trump took office and up 55 cents since the day the war started.And when asked about when we, the American people, could expect the war to end, press secretary Caroline Leavitt would not commit to any timeline. She said that the w ...

Group 1: War Scenarios and Impacts - The war may end quickly or the Iranian government could choose to prolong it, leading to uncertainty about the extent of damage Iran can inflict [1][2] - The refining capacity in the Middle East is significant, with Saudi Arabia and Iran each holding between 2.5 to 3 million barrels per day [4] - Recent attacks have idled over a million barrels a day of refining capacity, impacting the overall energy market [5] Group 2: Production and Recovery Timelines - Crude oil production facilities could be brought back online in 1 to 2 weeks, while refining facilities may take several weeks to a month to resume operations [6][7] - Aluminum smelting capacity has been curtailed, with potential recovery taking several months, which could lead to increased costs [8] Group 3: Energy Price Dynamics - A period of elevated energy prices is anticipated, potentially lasting around three months, affecting trade dynamics globally [9] - The U.S. is positioned as a net energy exporter, benefiting from rising energy prices, while Europe may face economic downturns if prices spike significantly [10][11] Group 4: Strategic Responses and Market Management - Politicians may release strategic oil reserves to manage crude prices, but this does not directly address petroleum product shortages [14][15] - Various measures, such as waiving the Jones Act or sanctions waivers, could be implemented to alleviate tensions in the energy market [17]

Core Viewpoint - The White House anticipates a decrease in oil and gas prices for the American public once the objectives of the joint Israeli-U.S. air operations against Iran are fully achieved, indicating that the recent price increase is temporary [1]. Group 1: Oil and Gas Prices - Oil prices surged to over $119 a barrel, the highest since June 2022, due to supply cuts by Saudi Arabia and other producers, raising concerns about potential disruptions to global supplies [2]. - The White House is monitoring the oil market closely, with Trump's energy team in communication with industry leaders to address the situation [2]. Group 2: Political Implications - The rise in oil prices, following U.S. and Israeli strikes on Iran, poses a risk to U.S. businesses and consumers, particularly ahead of the November midterm elections, where Republicans aim to maintain control of Congress [3].

Julian, you've been able to confirm a report that appeared fir in The Washington Post saying U .S. intelligence agency concluded before the war that even a large-scale attack on Iran is unlikely to deliver regime change. What more are you hearing about that intel report and how the president views it.Well, look, it's important to remember that intel report is a product of the National Intelligence Council, and sometimes that group is bringing in reports from across all the spy agencies. But in this case, th ...

RANKING MEMBER ON THE HOUSE INTEL COMMITE CONGRESSMAN JIM HIMES OF CONNECTICUT BE CAREFUL I MIGHT I MIGHT MAKE YOU A SENATOR IN THIS CONVERSATION SIR IT'S GOOD TO HAVE YOU I YOU KNOW THE BIG QUESTION THAT SECRETARY PANETTA LEFT ON ANSWERED THERE ABOUT HOW TO ADDRESS THAT ROOT CAUSE I'M GOING TO LEAVE ASIDE BECAUSE THAT'S A BIG BIG BIG CONVERSATION AND PRESIDENT OBAMA IS GOING TO SPEAK IN A MINUTE JESSE JACKSON'S FUNERAL SO WE'RE GOING TO HAVE TO GO SO I'LL START WITH THIS WHAT IS YOUR UNDERSTANDING OF HOW M ...

Group 1 - The company is actively involved in discussions regarding energy prices and has developed plans for various scenarios related to crude oil markets [1] - There has been no indication that a release from the Strategic Petroleum Reserve (SPR) is imminent, suggesting a stable outlook for oil supply in the near term [2] - The expectation is that concerns affecting oil markets will diminish due to the success of military operations, leading to a more stable pricing environment [2]

Uncertainty about how long the war in Iran could last is forcing traders to turn to history for a market's guide, specifically to look at Russia's invasion of Ukraine in 2022 and the playbook on how that affected gas and oil prices, bonds and stocks and the dollar. First, gas and oil prices. Just like back in 2022, energy prices are the most impacted.Higher energy prices could trigger inflation and hurt economic growth. And that will be bad news for both stocks and bonds. Then we look at the dollar.All the ...