US oil prices hit $96 as gains reach 44% since July 2

US oil prices are above $96 per barrel, up 44% since July 2. No public comment from President Trump and no Iran deal under discussion. CPI inflation data is scheduled for Friday; a hot print would make another Federal Reserve rate pause difficult to justify. The report notes day 193 of the Iran War. Source: @TheKobeissiLetter.

Market implications

- Rising energy costs lift CPI and inflation expectations.
- Higher inflation risk lowers the probability of a Fed pause.
- Tighter US monetary policy pressures risk assets, including cryptocurrencies.