House Majority Whip Tom Emmer (R-MN) urged calm on Monday after the price of crude oil surged due to fallout from the Iran war. On Monday, crude oil prices climbed to $119.50 a barrel before falling back. They leveled off to hover around $100 per barrel by late Monday morning. Oil prices had not surged…
President Trump is betting on his “fire and fury” rhetoric to reopen the Strait of Hormuz and avoid an oil crisis prompted by his war with Iran. But the strategy, which includes the possibility of Navy warships escorting tankers through the critical waterway or even a U.S. takeover of the area, has not prompted any…
Energy Secretary Chris Wright deleted a social media post Tuesday claiming that the U.S. Navy had begun escorting oil tankers through the Strait of Hormuz, where hundreds of ships have been stopped amid Donald Trump’s illegal war in Iran. Apparently, it wasn’t true. Wright’s now-deleted post claimed that the U.S. Navy escorted a ship “to ensure oil remains…
US stocks turned green Tuesday as oil prices declined at a drastic pace on hopes the war in Iran could be limited – though the drop slowed after the Trump administration backtracked on claims an oil tanker had been escorted through an Iranian energy chokepoint.
