Oil prices initially shot more than 9% higher as supply concerns worsened with Iranian attacks on commercial shipping around the Strait of Hormuz.
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 ...
Markets seesawed on Day 13 of the war in the Middle East, as two oil tankers were struck by projectiles near Iraq's southern ports and attacks between Israel and Hezbollah intensified.
Earlier on Thursday, Mojtaba Khamenei said the Islamic Republic would seek to ensure the Strait of Hormuz remains effectively closed. In his first public comments since succeeding his father, he added that Tehran will look to open other fronts in the war if the US and Israel persist with their attacks. Oil prices rose more than 10% on Thursday with Brent…
President Donald Trump appears confident that a quick and victorious war with Iran will override voters’ concerns about rising gas prices, a major gamble as November’s midterm elections approach. Affordability is consistently at the top of voters’ concerns. While Trump has focused on the issue during his 2024 presidential campaign, he gave his strongest…
President Trump argued the U.S. benefits when oil prices go up on Thursday amid growing concerns over the impact of Washington’s operation in Iran on energy costs. “The United States is the largest Oil Producer in the World, by far, so when oil prices go up, we make a lot of money,” Trump said in…
