Oil prices have started to slip — but not necessarily for reasons that suggest a return to market normalcy. Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive content. The International Energy Agency said Tuesday that “demand destruction” has begun to unfold. As a result of the acute energy commodity … Read more
NEWYou can now listen to Fox News articles! Rep. Glenn Ivey, D-Md., is demanding consideration of a Democrat-led war powers resolution that would require President Donald Trump to pull U.S. armed forces out of hostilities with Iran. “I think it’s important for us to keep trying to push the issue forward, and eventually [Republicans] are … Read more
Neil Irwin, chief economic correspondent at Axios, joins CBS News 24/7 to break down the jump in oil prices after President Trump announced the U.S. would blockade Iranian ports in the Strait of Hormuz. Source link
Oil prices jumped above $100 a barrel on Monday and U.S. stocks dipped amid concerns about the impact of President Trump’s plan to blockade Iran’s ports and a partial blockade of the Strait of Hormuz, a key chokepoint for oil, fertilizer and other commodities. The price of Brent crude, the international benchmark, jumped $7.15, or 7.5%, to $102.30 … Read more
TOKYO — Oil prices resumed their climb and Asian markets mostly declined Monday as the U.S. military prepared to blockade ships entering or leaving the Strait of Hormuz, where most shipping has been stalled by Iran since the start of the war. U.S. President Donald Trump announced the planned blockade after U.S.-Iran ceasefire talks in … Read more
Iranian parliament speaker Mohammad Bagher Qalibaf said Americans would soon be “nostalgic for $4-$5 gas” after President Trump announced a blockade of the Strait of Hormuz on Sunday. Taurean Small reports on the pain at the pump currently being felt across the United States. Source link
The price of oil surged Sunday night after President Donald Trump said the U.S. would blockade the Strait of Hormuz following the failure of peace talks with Iran. Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive content. U.S. crude oil soared 8%, to more than $104 per barrel. International … Read more
FORT COLLINS, Colo. — Junelle Lewis was on the hunt for a reprieve from Seattle-area gas prices driven high by the Iran war when an app on her phone gave her the answer: the Tulalip Reservation north of the city, almost half an hour from her home. She didn’t hesitate. “I purposely drove here just … Read more
Farmers react to high gas prices as Trump’s Iran war rages on – CBS News Watch CBS News Farmers across America are grappling with soaring fuel prices as the war in Iran impacts energy costs. CBS News’ Lana Zak reports. Source link
WASHINGTON — Soaring gas prices are expected to produce a spike in inflation when the government reports consumer prices for March on Friday, likely unnerving the inflation fighters at the Federal Reserve and heightening the political challenges of rising costs for the White House. Inflation probably rose to 3.4% in March compared with a year … Read more