Commodities
Trump's Iran Threat Sends Oil Prices Soaring
Oil prices surged on August 20 after President Donald Trump threatened to increase economic pressure on Iran, creating more doubts about a near-term solution to the conflict.
The price for a barrel of Brent crude rose by 1.8% to $93.24 as uncertainty continues about when oil tankers can freely exit the Persian Gulf again.
The U.S. Treasury Department's decision to at least double the size of its bond buybacks also contributed to higher yields in the bond market, pushing up inflation worries and erasing some of the relief created by the previous day's announcement.