The price of a barrel of the crude oil benchmark grade West Texas Intermediate, which had declined steadily for the past four years as new energy sources emerged, soared to triple digit territory a few months ago due to the impact on supply from the war in Iran.
Oil prices were coming down and were starting to reduce the pricing pressure that had been building in the economy.
Treasury bond yields have backed up on fears of oil-price driven inflation in the months ahead, this as the war in Iran remains unresolved.
The Bureau of Labor Statistics (BLS) released the Employment Situation for May. The U.S. added 172,000 non-farm jobs, helped by strength in leisure and hospitatlity.
In the current situation, oil prices have jumped sharply since the fighting began, and we are now seeing the impact of higher energy prices spreading to almost every sector of the economy.
The Bureau of Labor Statistics (BLS) released the Employment Situation for April. The U.S. added 115,000 non-farm jobs, helped by strength in the stalwart Healthcare sector.
