Latest Finance-Economy News
Oil Prices Surge Amid Middle East Shipping Crisis and Iran Conflict
Crude oil prices jumped with WTI at $87.25/bbl (up 4%) and Brent at $91.98/bbl (up 4.8%) due to disrupted Strait of Hormuz supply from U.S.-Israel attack on Iran and ongoing retaliation. IEA released 400M barrels and Saudi Arabia ramped production, but supply risks persist.
Global spike pressures central banks toward hawkish stance.
US Stock Markets Close Mixed as Geopolitical Tensions Escalate
US stocks ended mixed with Dow and S&P 500 down, Nasdaq up, amid no de-escalation in U.S.-Israel-Iran conflict and elevated oil prices. Oracle reported Q3 earnings beat, revenues up 22% to $17.2B on cloud/AI growth, shares spiked 8%.
Markets uneasy with Middle East risks.
US February Jobs Report Shows 92,000 Job Losses
Nonfarm payrolls fell 92,000 in February, below expectations, with prior months revised down; healthcare lost 28,000 due to strikes. Inflation at 2.4% YoY, down from 2.7% in 2025; Fed held rates steady.
Supreme Court invalidated some tariffs, aiding business certainty; GDP grew 1.4% Q4 2025.
CPI Rises 0.3% in February, 2.4% YoY Amid Energy Surge
US CPI-U up 0.3% MoM, 2.4% YoY; energy +0.6%, food +0.4%, shelter +0.2%. Core CPI less food/energy +0.2% MoM, 2.5% YoY.
Indexes for medical care, apparel up; communication, used cars down.
Iran War Pushes Oil to $91.74/Barrel, Strains Global Growth
Brent crude at $91.74/bbl (26% higher post-U.S. strike on Iran Feb 28); US gasoline up 20%. Could reduce US purchasing power 0.6% if oil at $85; GDP still ~2.8%, unemployment 4-4.5%.
Global growth resilient near 2.8% if war resolves quickly.
North American Growth Stable Despite Oil Shock from Middle East
RBC forecasts neutral oil impact on US/Canada 2026 GDP (net exporters); headline inflation upgraded but GDP, unemployment unchanged. US core CPI to peak 3% Q2 from tariffs; BoC holds at 2.25% through 2026.
BoE, ECB also on hold amid energy shock.
Global Growth to Slow to 2.6% in 2026 Amid Geopolitical Shocks
Fitch projects world GDP at 2.6% in 2026 despite oil shock, US policy; US at 2.2% (up from 2%), eurozone 1.3%. Growth steady if oil shock short-lived.
Economy resilient to shocks.
Central Banks Face Hawkish Pressure from Oil-Driven Inflation
Oil spike may jolt China from deflation, relieve BOJ pressure but weaken yen past 159. RBA to hike next week; ECB, BOJ priced for hikes; bonds hurt by inflation.
BoE holds at 3.75%, ECB at 2% through 2026.
Oracle Earnings Beat Drives Shares Up 8% on AI Cloud Boom
Oracle Q3 FY26 EPS $1.79 (beat by 5.29%), revenues $17.2B (up 22% YoY) from cloud infrastructure/AI workloads. Positions Oracle as AI destination.
Positive amid mixed market.
Oil Volatility Raises Risks for 2026 Crop Planting and Fed Policy
Higher oil prices increase planting risks for corn/soybeans; no Fed policy change expected March. Global supply disruptions from Iran war amplify agricultural uncertainties.
IEA's Historic 400M Barrel Release Fails to Cool Oil Rally
IEA's 32 nations released 400M barrels, largest ever, plus Saudi production boost, yet WTI/Brent surged on Strait of Hormuz chaos. Largest supply line disrupted by Iran retaliation.
Pushes energy index up 0.5% YoY.
US GDP Resilient at 2.8% Despite Consumer Strain from Gasoline Spike
US GDP on track for 2.8% growth 2026 with unemployment 4-4.5%, despite 20% gasoline jump and 0.6% purchasing power hit. Consumer savings dip, gasoline use cut.
Fragile if Iran war prolongs.