Oil prices are back in focus 
The U.S. has reimposed its blockade on Iranian ports and scrapped the oil export sanctions waiver.
That reverses the economic concessions that briefly helped bring oil prices down.
The U.S. has also sent additional F-16s and F-35s to the region, suggesting preparation for further escalation.
Brent crude surged back toward US$88 per barrel on Friday, marking its biggest weekly advance since April.
Tanker traffic through Hormuz has also dropped again, while attacks on energy infrastructure raised fears of sustained supply disruption.
The June CPI report had offered a short period of inflation relief from lower gasoline prices.
But if hostilities continue, that relief could reverse....
