Global central bankers fretting about geopolitics just got another sharp reminder overnight about the potential threat that the Middle East poses to their inflation fight. In the same week that multiple monetary officials meeting in Washington said they’re on the lookout for potential oil shocks that could reignite consumer-price growth, Israel’s attack on Iran on Friday caused just the sort of price fluctuations that could test their nerves. The strikes reported around targets in Isfahan prompted a jump of more than 4% in crude to above $90 a barrel, before erasing that gain to trade lower on the day as Iranian ... (full story)