Strait of Hormuz doubts push Brent back above $99
Sultan Al Jaber said the Strait of Hormuz was “not open” as Brent rose above $99 and US crude topped $102 briefly.
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Fresh coverage on the economy, markets, and the forces moving money.
Labor squeeze: participation rate hits 1977 low
U.S. labor-force participation fell to 61.9% in March, its lowest since 1977 outside the pandemic, even as payrolls beat forecasts.
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Mortgage rates ease to 6.37% after five-week climb
Freddie Mac said the average 30-year mortgage rate fell to 6.37%, ending a five-week climb after the U.S.-Iran ceasefire eased inflation worries.
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Bitcoin hovers near $71,200 amid $75,000 breakout debate
Bitcoin futures open interest hit 726,000 BTC as altcoins gained some traction, but leverage still drove much of the move.
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Fed faces little room to cut rates
U.S. jobless claims rose by 16,000 to 219,000, while inflation is expected to climb as the Iran war lifts energy, food and financing costs.
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Rate watch: Mortgage rates fall to 6.37% on lower Treasury yields
Zillow economist Kara Ng said the geopolitical shift brought only a slight reprieve as mortgage rates fell after Iran and ceasefire headlines eased oil fears.
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Oil markets: Brent rebounds above $99 on Hormuz doubts
Brent rebounded above $99 a barrel as traders questioned whether the Strait of Hormuz will reopen after the ceasefire.
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