Oil Prices Rise 5% Amid US-Iran Negotiation Standoff

Oil prices increased by 5% over the last two days, reaching around $88 a barrel as the U.S. and Iran face a deadlock in negotiations over a peace deal and the reopening of the Strait of Hormuz. This situation is contributing to uncertainty regarding global inflation, affecting stock markets. The U.S. consumer price report for July, set for release Wednesday, could influence expectations for the Federal Reserve's September meeting, where a 50/50 chance of an interest rate hike has been noted. For ordinary investors, rising oil prices in conjunction with inflation concerns may lead to increased volatility in the stock market.