A new study by the Federal Reserve Bank of Dallas estimated that a recent spring surge in oil prices to above $120 a barrel reduced U.S. economic output by about 0.3 percentage points.
According to Jin10, the study said the impact was far smaller than the effects of similar oil shocks in the 1980s, when the United States was more dependent on imported oil.
The report described a war against Iran, launched with U.S. support, as cutting global oil supply by about 15% and disrupting shipping through the Strait of Hormuz. It said the resulting turmoil in global commodity markets pushed prices higher, led to supply shortages in some regions, and coincided with weaker overall demand.
Dallas Fed Study Estimates Limited U.S. Output Hit From Recent Oil Price Spike
2026-06-24 02:05:33
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