Rather, it is geopolitical factors—specifically, escalating tensions in the Middle East—that are unsettling markets and pushing prices higher.

Oil prices climbed nearly 9% after Israel launched widescale strikes against Iran targeting nuclear facilities and missile factories.

Oil surged, stocks fell and investors sought safety in the U.S. dollar and government bonds after Israel struck Iranian nuclear and military targets in an attack that raised the risk of all-out war between them.

A sustained surge in oil prices is likely to complicate the U.S. fight against inflation. A $10-a-barrel increase would boost year-over-year growth in the consumer-price index by 0.5 percentage points,

Larry He, who served as Mr. Cuomo’s Asian outreach director, held senior posts at a multibillion-dollar firm owned by China but omitted the experience from his résumé.

Almost a third of the global seaborne oil trade moves through the Strait of Hormuz. Any interruption could send crude prices soaring. Plus, investment newsletter commentary on the job market, small-caps,

The past two years of escalating tensions in the Middle East have taught oil traders to be sanguine about the risk of disruption to oil supplies.

A Homeland Security Investigations agent testified about the hundreds of bottles of lubricant and baby oil authorities found at Sean Combs' home.