Iran

The Iran war’s next hidden cost: Higher prices for plastic

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Nearly every American consumer staple, from fresh produce and baked goods to household supplies and medical equipment, has been packed at some point in lightweight, flexible plastic sacks, known in the industry as poly bags. Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive content. Elevated gas prices have already … Read more

What Trump’s handling of the Iran war has done to perceptions of US power

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Within hours of U.S. President Donald Trump’s April 7 announcement of a two-week ceasefire with Iran, Iranians poured into Tehran’s Revolution Square, cheering, honking horns, and waving Iran’s tricolored flag. Some burned the Stars and Stripes amid angry chants. The display of nationalism was undoubtedly not the scene Mr. Trump envisioned when, in late February, … Read more

Oil prices plummet after Iran says Strait of Hormuz is

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Oil prices plummeted by around 10% on Friday after Iran declared the Strait of Hormuz “completely open” amid a ceasefire between Israel and Lebanon.  The West Texas Intermediate, the U.S. benchmark, fell by $10.33, or 10.91%, to $84.36, according to oilprice.com. Brent, the international standard, dropped $8.89, or 8.94%, to $90.05 a barrel.  U.S. motorists … Read more

Senior U.S. officials could be back in Pakistan for Iran talks within days, sources say

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Washington — Amid a tightening American naval blockade of Iran’s ports and coastline in the narrow maritime chokepoint of the Strait of Hormuz, the Trump administration is weighing a renewed diplomatic push that could send senior officials back to Pakistan within days, according to several people familiar with the deliberations.  While still tentative, the effort is … Read more

The Iran war has caused the cost of jet fuel to surge. Here’s how travelers are impacted.

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Since the war in Iran began, the cost of jet fuel has doubled due to shortages. Now, the head of the International Energy Agency says Europe has “maybe six weeks or so” of jet fuel left if disruptions in the Strait of Hormuz continue. Airlines around the world are now canceling flights and increasing fares … Read more

Oil prices plunge 10% after Iran says Strait of Hormuz is open for commercial vessels

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The price of oil plunged sharply and U.S. stock indexes opened at new all-time highs after the Iranian foreign minister said that the Strait of Hormuz was open for commercial vessels. Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive content. “In line with the ceasefire in Lebanon, the passage … Read more