Bloomberg Surveillance · Thursday, July 9, 2026
Speaker 3 believes that recent developments, particularly rising oil prices due to the conflict in Iran, make a July Federal Reserve rate hike more likely. They note that the conflict has not been resolved and continues to draw down oil inventories, creating potential for significant price spikes.
“I mean, I think if you look at what's going on with oil prices, the only reason why July wasn't live was because oil prices were down basically at where they started the war. That's changed now.”
“It's hard to know exactly how far this is going to go, but I think it's important to recognize from a macro fundamental perspective, the conflict in Iran and the Hormuz problem has not really been resolved.”
“We are barreling towards a loss of inventories. That's still happening. You see what's going on with the spr it's going down.”