U.S. crude prices topped $100 per barrel Sunday evening, as the Trump administration weighs military strikes on OPEC member Iran’s key oil export facilities on Kharg Island. U.S. crude oil rose 2.64% to $101.32 per barrel by 6:15 p.m. ET. Brent prices, the international benchmark, were up 2.94% to $106.17 per barrel. President Donald Trump…
The Trump administration has rolled out a series of measures to attempt to blunt the blow of the Iran-driven oil-price hike, and yet prices remain stubbornly high. As the war rolls on, it is becoming clear there isn’t much the U.S. or any other government can do to provide relief from higher oil prices short…
The Iran war could soon mean higher prices on store shelves for consumers. Iran’s effective closure of the Strait of Hormuz passage has significantly disrupted the global supply chain, affecting goods from fertilizers to metals to gas and fuel. The passage is a critical point, funneling tens of millions of barrels of oil daily along…
U.S. Secretary of Defense Pete Hegseth holds a briefing amid the U.S.-Israeli conflict with Iran, at the Pentagon in Washington, D.C., U.S., March 2, 2026. Elizabeth Frantz | Reuters Defense Secretary Pete Hegseth on Friday brushed aside concerns that the effective closure of the Strait of Hormuz because of the Iran war, which has spiked…
The Callisto tanker sits anchored in Port Sultan Qaboos as the traffic is down in the Strait of Hormuz, amid the U.S.-Israeli conflict with Iran, in Muscat, Oman, March 12, 2026. Benoit Tessier | Reuters Brent crude oil, the global benchmark, held above $100 on Friday morning as the U.S.-Iran war heads toward its third…
Russian supertanker Astro Lupus waits to unload its cargo of the first direct shipment of Russian crude oil on July 3, 2002 in the Gulf of Mexico. Pool | Afp | Getty Images The U.S. on Thursday temporarily authorized the purchase of Russian oil stranded at sea to stabilize energy markets. U.S. Treasury Secretary Scott…
The U.S. Navy will begin escorting ships through the Strait of Hormuz as soon as “militarily possible,” Treasury Secretary Scott Bessent told Sky News on Thursday. “That was always in our planning, that there’s the chance that the U.S. Navy or perhaps an international coalition will be escorting oil tankers through,” Bessent said in that…
Uber signage on a vehicle at San Francisco International Airport (SFO) in San Francisco, California, US, on Monday, Feb. 2, 2026. David Paul Morris | Bloomberg | Getty Images For more than a decade, Alvaro Bolainez has ferried passengers around the Los Angeles area in his SUV as a rideshare driver. He’s never seen anything…
Travelers wait in line at a Transportation Security Administration (TSA) checkpoint at William P. Hobby Airport in Houston, Texas, US, on Monday, March 9, 2026. Mark Felix | Bloomberg | Getty Images The surge in fuel prices since the U.S. and Israel attacked Iran nearly two weeks ago is already driving up airfare. Consumers’ appetite…
Son of Iran’s Supreme Leader Ayatollah Ali Khamenei, Mojtaba Khamenei, attends a demonstration to mark Jerusalem day in Tehran. Morteza Nikoubazl | Nurphoto | Getty Images Iran’s new Supreme Leader Mojtaba Khamenei has said the closure of the Strait of Hormuz maritime passage should be continued as a “tool to pressure the enemy,” in his…
