Oil Tops $100 a Barrel as U.S. Wholesale Inflation Stays Sticky

Energy prices drive the latest producer inflation reading

U.S. wholesale prices rose in the latest inflation report as crude oil traded above $100 a barrel, adding pressure to household energy costs and business input prices nationwide.

Brent crude, the global benchmark, settled at $101.21 after disruptions in Middle East energy shipping. Analysts said the increase is feeding through to gasoline, with the national average for regular recently listed near $4.22 a gallon.

Labor market still tight as claims stay low

Producer price measures remain elevated even after months of mixed consumer-price readings. Economists noted that energy is again the swing factor, while weekly unemployment claims dipped to about 206,000, a sign layoffs remain rare.

U.S. stocks closed lower as Treasury yields moved higher ahead of additional inflation data later in the week. Consumers and small businesses are watching pump prices and freight costs as autumn shipping continues.