Brent $107 · gas $4.50 · Michigan consumer sentiment 48.2, worst since 1952

Brent July crude closed +3.4% at $107.77 May 12; WTI trades near $102 as Hormuz blockade shock hardens. US gas hit $4.50 mid-month from $4.446 May 3; California topped $6. Six states near $5. University of Michigan May sentiment index hit 48.2, lowest since surveys began 1952, as one-year inflation expectations stuck at 4.5%—Iran war oil shock zeroed in on household confidence.