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Commodities

Equities Rise as Inflation Data Fails to Spark Rate Hike Bets

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Oil
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Global equities rose on Wednesday after inflation data showed a small increase of 0.1% in July, matching expectations and reducing pressure for an interest rate hike from the Federal Reserve next month.

The US consumer price index (CPI) report came as investors balanced lower demand forecasts against ongoing tensions between the US and Iran over shipping traffic through the Strait of Hormuz.

Oil prices dipped in response to forecasters cutting global demand projections, but later recovered after investors weighed the impact of a potential disruption to oil supplies.

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