Overview
- U.S. consumer prices rose 0.3% in February and 2.4% year over year, with core inflation at 2.5% as the report broadly matched forecasts.
- The IEA’s 32 member countries agreed to release about 400 million barrels from emergency reserves in a bid to cool prices, yet Brent and WTI advanced roughly 4% as traders questioned the move’s impact.
- U.S. Central Command said it eliminated 16 Iranian mine-laying vessels near the Strait of Hormuz, while fresh attacks on ships kept traffic constrained and heightened supply risk.
- Treasury yields climbed with the 10-year near 4.22% and the dollar firmed against the euro and yen, as stocks traded mixed and investors pushed back expectations for Fed rate cuts.
- Energy-linked buying lifted grains, with futures extending gains as traders also parsed USDA figures showing higher world corn stocks and largely steady U.S. balances, while bitcoin hovered around $70,000.