Dallas Fed: Hormuz Closure Lifts Oil $167, Inflation >4%

Dallas Fed paper finds a three‑quarter Hormuz closure could raise oil to $167 from $115 per barrel globally.
A one‑quarter Hormuz closure would lift March headline inflation by 5.2 pp annualized, fading to a 0.35 pp Q4 rise.
Core inflation would rise modestly, by 0.18 pp for a one‑quarter closure and 0.49 pp for a three‑quarter shutdown respectively.
President Donald Trump warned Iran to reopen the strait or face attacks on its power plants and bridges, heightening geopolitical risk.