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Energy prices continued to rise on Tuesday as attacks by the United States and Israel on Iran intensified, along with the country's response.
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President Donald Trump said the U.S. Navy could start escorting oil tankers through the key Strait of Hormuz as he ordered the government to provide risk insurance for maritime trade amid the conflict with Iran.
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A sell-off for stocks is slamming into Wall Street Tuesday after wrapping around the world, as oil prices leap even higher with worries that the widening war with Iran may do more sustained damage to the economy than feared.
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Oil briefly hit $85 a barrel as Iraqi production shuts down because so few tankers risk journey through Strait of Hormuz
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Trump says U.S. Navy will escort tankers through key Hormuz. That couldn't come soon enough for strained Middle Eastern storage facilities and looming production cuts.
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Stock Market Today: Dow Sinks More Than 1,100 Points; Oil Prices Jump on Iran Conflict — Live Updates WSJStocks Tumble as Inflation Risk Emerges in Wake of Iran War The New York TimesStock market today: Dow, S&P 500, and Nasdaq slide as oil rises amid war worries Yahoo FinanceOil surges, stocks plunge as fears of prolonged Iran war hit markets NBC NewsBuy the Stock Market Dip? Why You Should Despite a U.S.-Iran War. Barron's
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A prolonged conflict in the Middle East could push prices even higher, as the busy driving season approaches.
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Disruption to global energy supplies and the prospect of an ever-widening conflict in the Middle East has sent crude-oil and natural-gas futures higher — and exposed subtle differences on how investors treat the stocks of different energy companies.
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China calls for vessels in strait of Hormuz to be protected amid soaring shipping costs The GuardianBeijing braces for economic impact as Iran war threatens Chinese oil: "A manmade crisis" CBS NewsChina Calls on All Sides to Protect Ships Transiting Hormuz Bloomberg.comChina imports the most energy, but is best placed on Iran Reuters
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