Economy / Markets

Higher-for-longer meets higher oil as a tariff truce buys two more months

Bonds stayed under pressure on Monday as Brent rose 2.1 percent to $106.49 a barrel, almost 18 percent higher this month, after Washington rejected Iran's plan to reopen the Strait of Hormuz; constrained refining capacity has pushed diesel to record levels. The Fed raised its target range a quarter point to 3-3/4 to 4 percent on 16 September, Japan's July minutes showed one board member seeking 1.25 percent, and services producer prices rose 3.7 percent. On trade, Washington published reciprocal 30-for-30 lists and China confirmed a truce extension to 10 January.

By News Desk · Edited by Editorial Desk · Monday, 28 September 2026

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