Oil Price Volatility and the Fed's Tightening Grip The latest developments in the Strait of Hormuz, where US forces struck Iranian rocket launchers over the weekend, have sent oil prices soaring by 3%, a stark reminder that quiet in the region is not synonymous with peace.
The global economy's tenuous relationship with the Federal Reserve's monetary policy decisions lies beneath this news cycle. Brent crude has reached $90. 61 per barrel, while US benchmark crude oil jumped 2. 7% to $85.
66. These numbers are hardly surprising given the heightened tensions in the Middle East.