Gasoline Surge Drives Retail Sales 1.7% Beat as Iran War Tightens Oil Supply

U.S. retail sales jumped 1.7% in March, topping WSJ's 1.5% forecast and FactSet's 1.6% consensus, fueled by a 15.5% surge at gas stations amid the Iran war that closed the Strait of Hormuz, slashing ~20% of global oil supply since Feb. 28. Excluding gasoline, growth slowed to 0.6%, with groceries up 0.7% and furniture 2.2%, but restaurants barely rising 0.1%. The data underscores oil-driven inflation, bolstering WLDOIL amid supply constraints and mixed consumer signals.