Consumer sentiment sinks to record low

Consumer sentiment sank to a record low in April as weeks of U.S.-Israeli strikes in Iran have impacted oil prices globally, a new University of Michigan survey found. 

Consumer confidence has dropped nearly 11 percent since March, a downward trend that started after the U.S. and Israel launched a joint military campaign against Iran on Feb. 28. The more than 40-day conflict led to the closure of the Strait of Hormuz, a major passageway for oil shipments, which has worsened markets and hiked up oil and gas prices globally.  

President Trump reached a two-week ceasefire deal with Iran on Tuesday, which has sparked a rise in stock markets and is expected to lower gas prices. Still, there are doubts about whether Iran will allow tankers to move through the Strait of Hormuz given key stumbling blocks, including Israel’s attacks on Hezbollah in Lebenon.

“Iran........

© The Hill