Wed., Sept. 2, 2026
[4:10 PM ET…closing prices for stocks, 3:50ish for commodities and bonds]
Tale of the Tape at the gas pump, nationwide averages, courtesy of AAA.
Fri., Feb. 27…regular $2.98…diesel $3.75
Wed., Sept. 2…regular $4.12…diesel $5.68 [2022’s all-time high was $5.81 at the start of Russia’s war with Ukraine. The price at the pump down the street from me is back to its cycle high of $5.99 (reg. $4.55).]
Yes, the price of diesel is massively important, impacting the cost of what you buy at the grocery and drug store, the cost of farm produce as ag uses lots of diesel…all kinds of everyday items are impacted.
The price of crude oil hit $91 on West Texas Intermediate today, $96 on Brent after the U.S. carried out further strikes on Iran and Washington threatened more devastating attacks.
U.S. Central Command said it had struck air defense sites, radar systems, maritime facilities, and mine laying capabilities, among other targets.
Iranian media reported strikes on multiple targets near the Strait of Hormuz and Iranian officials said significant damage was inflicted on targets in port cities, while the Iranian Red Crescent Society reported that four civilians were killed at a wedding ceremony.
Iran said it had targeted U.S. assets in Bahrain, Jordan, Kuwait and Iraq. There were no reported U.S. casualties.
The latest attacks, which began over the weekend, were the first in nearly a month and have obviously complicated efforts to end the conflict.
That said, U.S. Energy Secretary Chris Wright claimed today that 17 million barrels of oil transited the Strait on Monday, the highest daily volume since the war began. Kpler data, however, showed that just 4 commodity vessels transited Hormuz on Tuesday, down from 10 on Monday.
Stocks of crude oil in the U.S. declined by 4.45 million barrels in the last week of August, the first decline in five weeks.
U.S. equities rebounded today after a sloppy opening to the week, bonds were flat, while global bond yields ticked up further.
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Dow Jones +295…+0.6% [53061]
S&P 500 +35…+0.5% [7666]
Nasdaq +118…+0.5% [26217]
Oil (WTI) $90.70…Brent $95.30
Gold $4385
Silver $65.25
Bitcoin $77,333 [4:00 PM ET]
U.S. 2-yr. 4.37%
U.S. 10-yr. 4.78%…hovered around 4.80% all day, highest since Nov. 2023…
Japanese 10-yr. 2.99%…30-year high…
Back Thurs.
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Brian Trumbore
