Maria Aspin

That's its worst losing streak in almost four years.

Maria Aspin, NPR News, New York.

The surge in oil prices is hitting consumers at the gas pump, but that's just the first wave of pain.

The energy crisis means companies will have to pay more for shipping and trucking, likely driving up all kinds of prices.

Fed Chair Jerome Powell said this week that the war is making the country's economic outlook cloudier.

The Fed held interest rates steady as it tries to keep inflation under control.

But now some investors are starting to worry that the Fed might actually have to raise the cost of borrowing later this year.

U.S.

government bonds also sold off, and the price of gold plunged.

Gold is usually seen as a safe haven investment, but it just had its worst week in 15 years.

The global oil supply got some relief from the war with Iran after countries in the International Energy Agency agreed to release strategic reserves.

But the price of Brent crude oil still went up, and U.S.

stock markets still went down.

Investors also shrugged off the latest government data on inflation, which held steady last month, in line with economists' expectations.

But that data was collected before the war in the Middle East started driving up gas prices.

There was some good news for tech investors.

Shares in Oracle soared after Larry Ellison's software company reported earnings that beat expectations and reassured some of Wall Street's ongoing anxiety about an AI bubble.

Maria Aspin, NPR News.

The global oil supply got some relief from the war with Iran after countries in the International Energy Agency agreed to release strategic reserves.

But the price of Brent crude oil still went up, and U.S.