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Breakingmacro

Oil Surges 4% as Geopolitical Tensions Rise and Markets Await US CPI Data

First Detected: May 13, 2026, 4:23 AM

Last Update: 14 minutes ago

186 articles·90 stories

Event Summary

Oil prices surged by 4% due to rising geopolitical tensions between the US and Iran, as hopes for a ceasefire deal failed to materialize. Markets are focusing on US CPI data, with expectations that strong data will support the dollar. Meanwhile, Trump indicated the possibility of military action against Iran if negotiations do not progress, increasing uncertainty in the markets.