U.S. inflation may climb to its highest level since September 2023 if current oil prices persist, according to an analysis by The Kobeissi Letter. With U.S. oil prices nearing $120 per barrel, the model predicts that if this price level is maintained for three months, the Consumer Price Index (CPI) inflation could rise to approximately 3.7%. This potential increase underscores the impact of sustained high energy costs on the broader economy.