Oil Plunges to $68 but Trumpflation Worsens Inflation Pressures

As of July 11, WTI crude has plunged from nearly $109 per barrel in May to around $68, yet broader inflation pressures tied to tariffs and Middle East conflict are intensifying. The story began July 8 with a 5% oil surge after the U.S.-Iran ceasefire collapsed, pushing consumer inflation expectations to 3.7% and reviving Fed rate-hike fears. By July 11, analysts noted that supply disruptions continue to spread into food, shipping and manufacturing, driving core PCE toward 3.47% even as headline energy costs ease, raising odds of further monetary tightening.