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Gas prices remain higher than usual across the US, as the price of crude oil has been swinging wildly in response to the Iran war.
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The price of oil had spiked to nearly $120 a barrel on Monday, drawing remarks by President Trump that he believed the war on Iran was "very complete."
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Stock futures fall as traders weigh Trump's signal that Iran war may soon end: Live updates CNBCLive updates: Iran's next supreme leader is named as oil prices soar CNNIran Live Updates: After Global Economy Shudders, Trump Zigzags on Whether War Is Nearing End The New York TimesIran war may end ‘pretty quickly': What Trump told Republicans Al Jazeera
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Concern that oil production and shipment from the region will remain limited has lifted the price of crude oil — the largest factor in the cost of a gallon of gas — sharply.
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Also in this newsletter: Ukraine's pipeline stand-off leaves Brussels deeply frustrated
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U.S. and Western Allies Turn to Reserves to Counteract Gulf Oil Crisis WSJG7 energy ministers to meet Tuesday morning to discuss release of oil reserves, sources say CNBCG7 ready to take ‘necessary measures' over economic impact of Iran war The GuardianCan Tapping Oil Reserves Tame the Iran War Price Shock? Bloomberg
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Reliance on energy imports exposes Japan to volatility and could delay interest rate rises
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Crude back below $90 after surging to nearly $120 on Monday
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'Iran will determine when the war ends': IRGC responds to Donald Trump's 'short-lived conflict' remark Deccan HeraldIran war live: Trump says conflict will be over soon; Gulf attacks continue Al JazeeraIran says oil blockade will continue until attacks end, Trump threatens to hit harder Reuters
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The jump was a sign of growing concern that the war in the Middle East will take a toll on energy supplies.
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‘We've got to pay attention': GOP anxiety spikes over rising energy prices PoliticoDemocrats Seize on Oil Price Surge, as Trump Downplays It The New York TimesGOP Whip Tom Emmer predicts oil prices will drop after Iran war CNBC'This isn't America First': Rep. Thomas Massie blames Trump as gas prices soar amid US-Iran conflict whas11.com
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Oil tumbles as president seeks to calm market but gives conflicting signals on plans to end conflict
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Oil Prices Are Barreling Toward All-Time Highs WSJOil Prices Spike to Over $110 a Barrel, Highest Since Pandemic The New York TimesHow the Iran war and surging oil prices are affecting consumers at the gas pump and beyond AP NewsTracking gas and oil prices as war with Iran escalates CNNOil Is Already Near a Price That Hurts the Economy WSJ
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Oil plunges 10% as Trump warns to hit Iran 'twenty times harder' if it blockades Strait of Hormuz CNBCTrump says it's an ‘honor' to keep Strait of Hormuz open for China and other countries Fox NewsTrump says "the war is very complete," and he's considering taking over Strait of Hormuz CBS News
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President Trump insists the conflict will be brief, but world leaders are preparing for severe economic blowback.
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Oil climbed to nearly $120 per barrel before falling back after Trump sent mixed signals and the G-7 mulled releasing emergency oil supplies.
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The grim choice facing the Trump administration: Economic or naval collapse? CNNOil prices decline after nearly hitting $120 as Trump says U.S. considering taking over Strait of Hormuz CNBCIran war live: Trump, Tehran trade threats over oil blockade ReutersTrump says it's an ‘honor' to keep Strait of Hormuz open for China and other countries Fox News
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