Oil prices ease
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Consumer prices rose 3.4% in May compared with a year earlier, down from the 3.5% of April but still well above the BOE target, with oil price rises threatening to keep inflation higher for longer.
Calm returned to Wall Street, and U.S. stocks rallied, while oil prices gave back some of their initial spurts following Israel’s attack on Iranian nuclear and military targets at the end of last week.
The price of crude oil, yesterday, dropped marginally to $73 per barrel from $74 per barrel in the international market as the Israel-Iran conflict tension eases.
Calm is returning to Wall Street, and U.S. stocks are rallying on Monday, while oil prices are giving back some of their initial spurts following Israel's attack on Iranian nuclear and military targets at the end of last week.