On Thursday, oil topped $100 for the first time since May. Gas prices are now solidly above $4, and diesel is above $5.20 a gallon. The bond market is signaling that it’s more concerned about an inflation problem now than at any point during President Donald Trump’s second term.
CNN’s David Goldman explains how though the oil market has proven defiantly resilient, that tenacity faces its biggest threat since the start of the Iran war.