U.S. Strikes Iran, Oil Soars, Markets Dip | Colorado Springs News

U.S. military strikes near the Strait of Hormuz sent oil prices soaring past $90 a barrel while markets dipped—despite August’s overall gains. Rising energy costs fuel stubborn inflation above the Fed’s 2% target, forcing policymakers to balance rate hikes with slowing job growth. Gas prices have averaged over $4 a gallon daily this August—the priciest on record—straining household budgets. With the Fed’s next rate decision looming and a key jobs report incoming, the economy teeters between cooling inflation and economic slowdown. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/c8e35b0de7eb7664