Gas prices volatile after crude oil hits $97 per barrel
Crude oil prices surged to $97 per barrel, impacting the stock market and potentially increasing consumer costs. While the Dow Jones Industrial Average saw an initial gain, rising energy prices are a concern for inflation across the economy, affecting everything from grocery prices to Amazon deliveries. Investors are also facing volatility in their 401(k)s and concerns about inflation in the bond market.
Rising oil prices have significant implications for the broader economy, potentially fueling inflation that affects everyday goods and services and increasing volatility in financial markets.
The Sempra energy network company rang the opening bell on Wall Street.