Oil prices resume climb, inflation fears stalk global bond markets
Good morning. Oil prices are holding yesterday’s gains and the dollar is advancing on reports suggesting that the Trump administration is considering rebranding* its war with Iran as “Operation Sledgehammer” should Tehran reject US demands and the current ceasefire collapse. According to multiple sources, President Trump is weighing a resumption of major combat operations after declaring an end to “Operation Epic Fury” when a ceasefire took effect in early April, with the expectation that a new designation would reset the 60-day legal clock requiring congressional authorisation for hostilities. Intelligence assessments publicised by the New York Times** suggest Iran retains roughly...