Oil Shock Tightens the Screw: Fed Signals More Hikes as $150 Crude Looms and Trade War Refunds Flood Back

The Federal Reserve raised rates by 25 basis points to 3.9% last Wednesday, and the market is already pricing in consecutive hikes for the rest of the year. Brent crude has pulled back to ~$98 per barrel from $108 last week after Iran proposed reopening the Strait of Hormuz within seven days, but the underlying supply shock remains severe — Bank of America raised its year-end Brent forecast from $83 to $95 and warned oil could spike to $150 if conflict...