Fourteen days in, the world is left with a dangerous combination: rising oil prices, rising casualties, and still no clear answer about how this war ends or what victory even means.
The two most recent attacks, apparently carried out by explosive-laden boats, hit the tankers Safesea Vishnu and Zefyros in Iraqi waters.
With shipping traffic at a near halt at the Strait of Hormuz, the possibility of prolonged disruption to supplies of oil and other important commodities has grown.The big picture: If the military situation doesn't change soon, it will create a moderate stagflationary drag on the U.S. economy and a substantial one on Europe and East Asia.If oil prices spike…
Iranian strikes are escalating in the Middle East with new attacks aimed at driving up oil prices, hitting infrastructure and attacking ships near the Strait of Hormuz. An Iranian official now says the world should brace for oil to reach $200 a barrel. NBC’s Richard Engel reports for TODAY.
NBC News Correspondents Richard Engel, Raf Sanchez, Christine Romans and Monica Alba discuss the latest escalations in the Middle East as oil prices surge and President Trump weighs options to lower the price of energy. Retired Colonel Steve Warren analyzes the next phase of the war in Iran and shifts in U.S. strategy.
Iran's new supreme leader, Ayatollah Mojtaba Khamenei, said the Strait of Hormuz should stay closed and new fronts in the war will be opened if the US and Israel continue their attacks. These were the first public statements made by Khamenei since succeeding his father four days ago. Bloomberg Opinion's Marc Champion joins Bloomberg Open Interest with…
Attacks by Iran have already nearly halted the flow of oil through the vital waterway as commercial ship crews fear being hit by missiles, drones or mines.
Oil prices jumped Thursday morning to over $100 per barrel as Iran continued striking ships throughout the region. The global benchmark Brent crude climbed above $100 early Thursday morning for the first time since Monday before slipping slightly to $97.81. The spike came as Iranian attacks on ships in the Strait of Hormuz and Persian ...
The latest incidents in or near the Strait of Hormuz come shortly after Iran warned the world to prepare for $200 oil prices.
Oil prices initially shot more than 9% higher as supply concerns worsened with Iranian attacks on commercial shipping around the Strait of Hormuz.
