BREAKINGVIEWS-Gulf conflict has already laid a Fed trap

ReutersApr 8, 2026 3:17 PM

By Gabriel Rubin

WASHINGTON, April 8 (Reuters Breakingviews) - Despite a ceasefire, price hikes from the Iran war have just begun. Wrecked energy capacity can’t be quickly replaced. Covid showed supply bottlenecks linger. Kevin Warsh, nominee to lead the central bank, may be caught between pressure to hold rates and White House frustration.

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CONTEXT NEWS

Oil tumbled below $100 a barrel on April 8 after U.S. President Donald Trump said he had agreed to a ‌two-week ceasefire with Iran, subject to an immediate and safe reopening of the Strait of Hormuz. WTI crude futures slid by $20.48, or 18.13%, to $92.47 a barrel by 1320 GMT.

The U.S. Personal Consumption Expenditure Price Index and the U.S. Consumer Price Index will be released on April 9 and April 10 respectively.

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