Crude oil prices fell more than 4% on Sunday after President Donald Trump indicated that talks with Iran to reopen the Strait of Hormuz are advancing, though he said the U.S. would not rush a deal. West Texas Intermediate futures fell about 5% to $91.65 per barrel by 7:13 p.m. ET. International benchmark Brent futures…
A few months ago David Navazio, founder and CEO of medical supply company Gentell, had never heard of the Strait of Hormuz. But now, the narrow waterway thousands of miles away from the company’s headquarters in Yardley, Pennsylvania, is impacting the company’s operations in more ways than one. Chief among them is price, with Gentell…
US President Donald Trump holds an umbrella as he steps off of Air Force One upon arrival at Joint Base Andrews in Maryland on May 22, 2026. Brendan Smialowski | Afp | Getty Images President Donald Trump on Sunday said talks to end the war with Iran and reopen the Strait of Hormuz are proceeding,…
Stock market bulls wrestled back control last week after a brief respite, putting the S & P 500 back on the cusp of another record high. The index has now advanced for eight straight weeks since its Iran wartime bottom on March 30, its longest winning streak since late 2023, when it strung together nine…
A ship remains anchored on May 16, 2026 in the Strait of Hormuz near Larak Island, Iran. Negotiations between the U.S. and Iran over opening this critical waterway have largely stalled as the countries have rejected each other’s proposals to end the war that began when the U.S. and Israel attacked Iran on February 28….
Travelers walk through the terminal at Ronald Reagan Washington National Airport on May 1, 2026. Leslie Josephs | CNBC Higher fuel prices are testing how badly consumers want to travel this summer, whether flying or driving. Airfare hasn’t been this high since May 2022, when airlines stumbled out of the pandemic with aircraft and employee…
Miodrag Ignjatovic | E+ | David Paul Morris | Bloomberg | Getty Images U.S. consumers will shell out more for everything from fuel to hot dogs and hamburgers heading into Memorial Day weekend as the Iran War reignites inflation. Total inflation for shoppers rose 3.8% in April from the same month a year ago, the…
U.S. drivers will pay gasoline prices near four-year highs when they fuel up for travel over the long Memorial Day weekend and should expect more pain at the pump this summer if the Strait of Hormuz does not reopen. The average gasoline price stood at $4.55 per gallon on Friday, an increase of more than…
An Iranian flag flutters in the wind as ships remain anchored on May 16, 2026 in the Strait of Hormuz near Larak Island, Iran. Majid Saeedi | Getty Images News | Getty Images The U.S. and Iran have signaled progress in talks to end the war, but the combatants remain at loggerheads over Tehran’s enriched…
Traders work on the floor of the New York Stock Exchange during morning trading on May 21, 2026 in New York City. Michael M. Santiago | Getty Images Hello, this is Leonie Kidd writing to you from London. Welcome to today’s edition of the Daily Open newsletter. What a difference a week makes. On Monday,…
