U.S. May retail sales rise 0.9% as gas-price spike lifts service-station revenue 26.5%

U.S. retail sales rose 0.9% in May, beating expectations, with service-station sales up 26.5% year on year as gasoline prices briefly jumped to a four-year high amid the U.S.-Iran war. Although gas prices have since fallen below $4 a gallon and both sides said they agreed to a ceasefire and to reopen the Strait of Hormuz, the figures underscored how quickly geopolitical conflict can hit spot oil demand and prices. The episode reflected a confirmed, material supply disruption rather than an expected move or rumor, with a clear transmission path into traditional assets.