00:00It's Benzinga bringing Wall Street to Main Street
00:02U.S. consumers are facing mounting financial pressure as rising oil prices and Treasury
00:07yields increase energy and borrowing costs amid the war with Iran, according to CNBC.
00:12Moody's Analytics estimates the conflict has cost the average household about $1,760
00:18through September 11, including $930 from higher energy costs and $425 from higher interest
00:24rates.
00:24U.S. crude topped $105 per barrel Tuesday, while average gasoline prices exceeded $4.32
00:31per gallon, and diesel climbed above $6.
00:34The 10-year Treasury yield also reached its highest level since 2007, pushing mortgage
00:38rates above 7%.
00:40Economists warn that higher energy and borrowing costs are squeezing purchasing power and could
00:44eventually force consumers to reduce spending.
00:46For all things money, visit Benzinga.com.
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