The Kobeissi Letter
6 hour ago
Bearish

US oil prices top $96 per barrel

1 min

US oil price: above $96 per barrel, up 44% since July 2.

Market and Policy Outlook

  • Rising energy costs add inflationary pressure ahead of the CPI release tomorrow.
  • A hot CPI print would reduce the likelihood of another Federal Reserve rate pause.
  • No public comment from President Trump; no Iran deal negotiations reported.

Geopolitical Context

  • Report cites day 193 of the Iran war.