If prices go up, Fed officials may be inclined to raise its benchmark rate, raising borrowing costs for businesses and consumers. That could lead to businesses to cut jobs, particularly in the high-growth tech sector, and force Americans to pull back on spending, which drives more than 70% of economic activity in the U.S.

BRITISH fighter jets are being deployed to the Middle East to protect British military interests amid the spiralling Israel-Iran conflict, Sir Keir Starmer says. The Prime Minister bolstered our

Although the U.S. is a net oil exporter, higher oil prices could increase inflation and lower economic growth.

The Indian rupee is expected to slip past 86 to the U.S. dollar at the open on Friday, hit by surging oil prices and sliding risk assets after Israel attacked targets in Iran.

A sustained rise in the price of crude oil, which jumped sharply after Israel attacked Iran, could hurt consumers and President Trump’s efforts to bring down energy costs.

Rather, it is geopolitical factors—specifically, escalating tensions in the Middle East—that are unsettling markets and pushing prices higher.

Policymakers are expected to stand pat on rates, but the devil will be in the detail of its statement and Governor Kazuo Ueda's news conference. The BOJ has vowed to keep raising rates if underlying inflation approaches its 2% target, but the path ahead has become less certain.