Oil Price Surge Threatens US Inflation Rebound

The price of West Texas Intermediate crude oil has risen by 5.5% over the past month, pushing gasoline prices higher and potentially leading to a rebound in US inflation after a brief cooling.

The Consumer Price Index (CPI) showed a slight dip in June, but the recovery in oil prices could reverse this trend in July.

Experts warn of a looming natural gas shortage by 2028 due to rising LNG exports and AI data center demand, which could drive up electricity costs for consumers.