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(Bloomberg) -- Oil jumped after a reading on US consumer inflation expectations was revised lower, adding optimism to crude’s demand outlook. Most Read from BloombergSupreme Court Overturns Roe, Transforming Abortion-Rights FightJuul’s Vaping Products Are Ordered Off the Market in the USStocks Surge as Bullard, Data Ease Recession Fears: Markets WrapThese Are the World’s Most Liveable Cities in 2022‘Coast to Coast’ Housing Correction Is Coming, Says Moody’s Chief EconomistWest Texas Intermediate

Biden is starting the ask the US petroleum industry how to boost production and lower prices. But the negotiation doesn't seem serious, yet.

An at least three-week shutdown at Freeport LNG, operator of one of the largest U.S. export plants producing liquefied natural gas (LNG), is expected to delay cargoes to Europe, further stressing the continent's drive to phase out Russian gas.

U.S. stocks sank Friday morning as investors digested an update on inflation, which showed price increases unexpectedly accelerated and jumped by the most since 1981.