The David Lin Report · Thursday, July 30, 2026
Komal Sri-Kumar discussed the impact of geopolitical events, specifically the conflict in Iran, on oil prices and inflation expectations. He noted that a surprise Iranian missile attack on US forces caused oil prices to surge, contributing to the stock market downturn. Sri-Kumar predicts that oil prices will remain high due to the ongoing conflict.
“Just today, we had a surprise Iranian missile attack on US forces. Oil prices surged once more, which partly contributed to the, um, stock market going down at opening bell even before the FOMC conference.”
“Oil is still a valid indicator, yes, oil price fluctuates. But then I think what you need to take into account is how real is the ceasefire in Iran?”
“So I would say the the direction of oil price is higher. Even though that there are fluctuations in the short term, so the impact on inflation is going to be upward because there is no short term correction coming down of the oil price anytime soon.”