.jpg)
The Gaslighting of Hannah Pettey
When a young woman nearly dies from poisoning, investigators focus on the two people she trusted the most. "48 Hours" correspondent Anne-Ma…
Bearish
-55.0
What's Happening
US gasoline prices hit $4.14 per gallon for Labor Day weekend—the highest on record for the holiday—as Iran signals plans to expand control over the Strait of Hormuz with an "exclusion zone." Oil futures for October and November delivery spiked on geopolitical tension, with Brent crude up roughly 1% as trading resumed following the Iranian announcement.
Market Impact
Energy sector volatility is acute: WTI and Brent crude near seven-week highs, refinery constraints compounding supply concerns. Consumers face pump prices nearly $1 higher year-over-year, pressuring discretionary spending and inflation expectations heading into Q4. Downstream energy stocks and refiners benefit from margin expansion, but broader consumer staples face headwinds.
Broader Implications
The Strait of Hormuz handles roughly 20% of global oil traffic; Iranian escalation risks supply disruption and could trigger strategic petroleum reserve releases. This geopolitical premium compounds stagflation concerns and may force Fed policy recalibration if inflation persistence accelerates.
.jpg)
