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Oil prices flat over Strait of Hormuz stalemate
['Stan Choe']
Transport Topics
NEW YORK — Wall Street is flirting with a record Aug. 12 after several AI stocks reported better growth for the spring than analysts expected, while a report showed inflation across the United States was slightly less bad last month. Oil prices are essentially flat Aug. 12 but sharply higher this week with the Strait of Hormuz, through which a fifth of the global oil supply runs, effectively shut down as fighting in Iran continues. Treasury yields fell after a report showed that U.S. consumers paid prices for gasoline, groceries and other costs of living last month that were 3.4% higher than a year earlier.