[Analysts: The Grace Period for Oil Prices Has Ended, Fed May Cut Rates Twice Before November] Jin10 Data, March 9 – For most of last week, the market essentially gave the Middle East conflict a "grace period." At the time, it was widely believed that the situation would not spiral out of control or spread to broader economic sectors. However, now, with international oil prices surpassing triple digits, analysts believe this "grace period" has ended, and oil prices are beginning to factor in the risks of escalating conflict. Analysts also pointed out that diesel prices in the U.S. will be affected, and diesel costs will eventually be passed on to the prices of various goods. Any goods requiring truck transportation, such as groceries or items delivered to doorsteps, will be impacted. Moody's Analytics Chief Economist Mark Zandi noted that if all these factors are taken into account, a $10 increase in oil prices per barrel would result in an average American household incurring approximately $450 more in annual expenses. Previously, many market participants expected the Federal Reserve to cut rates twice before the U.S. midterm elections in November. However, CME Federal Rate Futures now indicate that the market is betting the Fed will only cut rates one to two times in total this year, with the earliest rate cut likely not happening until late July.