US stocks fall on latest oil price surge as Fed lifts inflation forecast

NEW YORK, United States — Oil prices surged Wednesday following a strike on a major Iranian gas facility as the Federal Reserve raised its inflation forecast while holding interest rates steady. Brent oil futures rose over 6 percent at one point to nearly $110 a barrel after Iran vowed to hit energy facilities throughout the Gulf in retaliation to what it said was an Israeli attack on a facility serving a massive gas field it shares with Qatar. The latest surge in crude prices — which moderated later in Wednesday’s session — acted as an equity market anchor throughout Wall […]... Keep on reading: US stocks fall on latest oil price surge as Fed lifts inflation forecast