Nearly two months after the onset of the Iran war, the conflict is taking a significant toll on Texas businesses with roughly half of Texas firms reporting at least some negative impact, according to survey results released this week by the Dallas Fed.
Oil prices are extending their gains early on Wednesday, with Brent jumping to over $114 and WTI exceeding $103 per barrel, as oil market participants weigh the stalled U.S.-Iran negotiations and the possibility of an extended U.S. blockade outside the Strait of Hormuz.
Curious Minds Corner
How did John D. Rockefeller once control 90% of America’s oil through one sneaky company?
Standard Oil used ruthless tactics like secret railroad rebates and buyouts to monopolize refining until its 1911 breakup.