International benchmark Brent crude rose for a fourth consecutive trading day on Thursday, breaking above $97 per barrel during the session, with a cumulative gain of over 7% this week. The average price of diesel in the United States reached $5.78 per gallon, a new high since 2022; the average price of gasoline also rose to $4.14 per gallon. The surge in oil prices is mainly due to disruptions in shipping through the Strait of Hormuz and Russia's suspension of diesel exports until October. ING analysts estimate that global diesel supply has been reduced by approximately 20% as a result. Federal Reserve Governor Christopher Waller stated that he expects upcoming inflation data to be manageable and that energy prices have not yet transmitted to other goods and services.