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Oil rose after Reuters reported further strikes affecting Saudi Arabia and the Strait of Hormuz area, along with delayed Gulf-Iran diplomacy. What caught my attention is the possibility that a longer disruption could keep inflation pressure elevated and complicate the Federal Reserve’s next decision, though it’s far too early to know whether this will last. For now, the headlines look like one developing geopolitical event rather than several separate signals, and calmer diplomacy or limited supply effects could quickly change the picture.

This week’s summary isn’t available yet. This is the most recent update.