US producer prices post largest drop in 14 months; inflation risks still tilted to the upside ReutersWholesale prices unexpectedly declined 0.3% in June on big drop in gasoline CNBCProducer prices fall as Iran oil blockade clouds inflation outlook Los Angeles TimesStocks rise after soft US inflation reading with Middle East in focus Reuters
The United States reinstated its blockade on Iranian ports in the Strait of Hormuz and shipping slowed to a crawl amid the renewed warfare in the critical waterway.
