Economy

Oil Market
Strait of Hormuz Remains Closed – But Russian Supertanker Passes Through

The Strait of Hormuz remains effectively closed, Bloomberg reports on Friday morning. This despite yesterday's media reports that Iran has provided maps with two new safe routes through the strait.

Traffic is a fraction of what it was before the war. However, a Russian-flagged supertanker passed through Hormuz yesterday. Since the outbreak of the war, few Russian-flagged ships have passed through the strait, according to Bloomberg.

Fed vs. Inflation
US inflation accelerates after the war – gasoline 21 percent more expensive

US inflation accelerated as expected to 3.3 percent in March from 2.4 percent in February. Core inflation increased to 2.6 percent from 2.4 percent. It was expected to have risen to 2.7 percent, according to Trading Economics' consensus forecast.

Friday's figures are the first to provide an indication of the impact of the Middle East crisis on US inflation.

The rising oil prices are most noticeable in the energy price index, which rose 10.9 percent during the month. This was mainly due to gasoline prices, which surged 21.2 percent and accounted for almost three-quarters of the total price increase in March, the BLS statistics agency wrote in a press release.

Housing costs increased by 0.3 percent on a monthly basis, while food prices were flat.

Fuel prices
Diesel price increases again – costs 23 kronor per liter

Diesel prices are bouncing back after Thursday's sharp reduction. Fuel companies are raising the price by 1.10 kronor per liter for business customers, which reflects the private market, reports TT.

This brings the diesel price to just over 23 kronor per liter. At the same time, the price of gasoline is being raised more cautiously, by 15 öre, to around 18.50 kronor per liter.