Oil Prices Fall
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Crude oil stockpiles look almost normal. The fuel that hauls your groceries is telling a very different story.
Commercial crude oil stocks rose by 3 million barrels last week. Analysts had expected crude stocks to fall by 500,000 barrels.
Bank of America raised its Brent oil price target to $95 and warned prices could top $150 if Iran war supply disruptions last into spring 2027.
Goldman Sachs sees one more interest rate hike for 2026 at the Fed's Oct. 27 meeting, and then the Fed could be done for this cycle.
Oil has climbed above $100 a barrel as the war with Iran disrupts global energy markets, putting pressure on gasoline, transportation, food and other household costs.
The war with Iran revealed just how much influence the world’s biggest oil importer has over prices and other countries’ supplies of jet fuel, gasoline and diesel.
The yields on U.S. Treasury bonds surged Wednesday as oil prices also climbed.
Higher Treasury yields don't just hit bond investors. They can raise borrowing costs and pressure stocks across the economy.
Oil futures settled higher following five sessions of losses, with WTI rising 1.8% to $92.16 a barrel and Brent up 3.9% to $103.08 a barrel.