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Real-time News
April 5th - Economists say the sudden surge in gasoline prices, felt by American consumers, will be fully reflected in key inflation data released this week. The US March CPI is expected to rise 1% month-over-month, the largest monthly increase since 2022; core CPI is likely to rise 0.3% month-over-month. The Iran war previously pushed up gasoline prices at US gas stations by about $1 per gallon. The day before the CPI data release, the Federal Reserves preferred inflation gauge will provide information on pre-war price pressures. Economists expect the core PCE price index to rise 0.4% for the third consecutive month in February, suggesting that even before the conflict, the process of inflation falling back to a more moderate level had stalled. Combined with signs of stabilization in the US labor market, persistent price pressures, and new inflationary risks from the Middle East war, this helps explain why the Federal Reserve may find it difficult to lower interest rates this year.On April 5th, local time, Ukrainian Presidential Office advisor Podolak stated on the 4th that negotiations regarding the Russia-Ukraine conflict will remain suspended as long as the Middle East war continues. He said that due to the ongoing situation in the Middle East, the political and military aspects of the current peace negotiations have been suspended, while the humanitarian aspects continue. Ukrainian President Zelensky and Presidential Chief of Staff Budanov have expressed the possibility of continuing to advance prisoner exchanges, and related work is underway.On April 5, the headquarters building of Kuwait Oil Company caught fire following a drone attack, the latest in a series of attacks by Iran against its Persian Gulf neighbors. Kuwait Oil Company stated that the building, which also houses the Kuwaiti Ministry of Petroleum, has been evacuated and firefighters are on site battling the blaze. This attack comes after Iran has launched multiple airstrikes against the Mina Ahmadi and Mina Abdullah oil refineries and repeatedly targeted Kuwaits airports. The statement said, "The oil industry leadership is closely coordinating with relevant departments, closely monitoring the damage assessment, and taking all necessary measures to ensure the safety of personnel and the site." Just hours before the attack, Irans semi-official Fars News Agency released an updated "target list," adding electricity, water, and steam infrastructure to the list of previously attacked oil, gas, and chemical facilities.On April 5th, a post by Trump received a reply from the Iranian Embassy in the UK. Trump wrote, "KEEP THE OIL, ANYONE?" Some media outlets interpreted this as mocking allies like the UK for their concerns about rising energy prices but their refusal to join the US in a war against Iran. The Iranian Embassy in the UK retweeted the post and replied, "Okay, weve left it (the oil) in the Persian Gulf."Iranian military: U.S. assets in Kuwait and the UAE were attacked by drones.
