Central Banks
Oil Tests Central Banker Nerves With Mideast on ‘Knife Edge’
- Isfahan incident prompted jump in crude before gain was erased
- ‘Stay on high alert’ for an escalation, analyst Fordham says
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Global central bankers fretting about geopolitics just got another sharp reminder overnight about the potential threat that the Middle East poses to their inflation fight.
In the same week that multiple monetary officials meeting in Washington said they’re on the lookout for potential oil shocks that could reignite consumer-price growth, Israel’s attack on Iran on Friday caused just the sort of price fluctuations that could test their nerves.