Nymex US crude oil futures main contract rose by 2.01% intraday, trading at $85.75 per barrel.

U.S. gasoline prices have recently hit a new historical high, with gas station prices reaching a record $5.47 per gallon. According to the latest data, the price difference between diesel and crude oil in the U.S. has also surpassed $102.20 for the first time, setting an all-time record. The upward trend in diesel prices began after recent conflicts involving Iran and has persisted until now; last year, the average price of diesel in the U.S. was $3.69 per gallon, marking a 49% increase to date

The Federal Reserve did not raise interest rates at its July meeting, but inflation risks dominated officials' discussions on the economic outlook. According to the meeting minutes, “many” officials still believe it would be necessary to hike rates if inflation fails to cool down. The term “many” is Fed-speak, referring to a sizable group of officials, but not a majority. Importantly, at the time of the meeting, July inflation data had not yet been released, nor had the July jobs report. The la

The Federal Reserve meeting minutes show that Fed officials consider the inflation outlook "highly uncertain," while the renewed escalation of the Iran war "casts a shadow over the inflation outlook." Officials believe the labor market remains stable, with labor demand and supply in balance. In the post-meeting statement, officials almost entirely adopted the language from the June statement, once again reaffirming their commitment to "achieving price stability." They also continue to describe

After the release of the Federal Reserve meeting minutes, the spot gold price saw little volatility and is now up by 3.5%, quoted at $4,489.41 per ounce. As a precious metal with both safe-haven and inflation-hedging properties, the price of gold is often closely linked to the monetary policy direction of the Federal Reserve. The lack of significant fluctuation following the meeting minutes also reflects that current market expectations for Fed policy have already been largely priced in.