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President Donald Trump called surging oil costs a "very small price to pay." Group of 7 leaders are set to convene on Monday to assess the economic fallout.
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The conflict in the Middle East could raise the cost of petrol, household energy bills and even food.
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The war in the Middle East has sent prices soaring, showing how much the world continues to depend on reliable supplies of oil and gas.
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The officials also claimed that the sharp increase in gasoline prices resulting from the Iran war would last only weeks.
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The price of crude oil briefly neared $120 a barrel Monday as Iran named Mojtaba Khamenei the supreme leader and then launched new attacks at Israel and Gulf states.
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Concern has grown for team after one critic called them 'wartime traitors' for failing to salute during the Iranian anthem.
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As turmoil continues in the Middle East, the price of crude oil rose to more than $100 a barrel on Monday.
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As the war in Iran spreads, Kyiv is eagerly offering its hard-won expertise and advanced technology to counter Iranian drones.
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The price of oil surged Monday, as the effects of the Iran war hit markets worldwide and stoke fresh worries about inflation.
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Ed Davey, the leader of the Liberal Democrats in Britain, said President Trump does not deserve the "diplomatic coup" of hosting the king for a state visit.
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World shares tumbled on Monday, with Japan's benchmark Nikkei 225 index plunging more than 5%, after oil prices spiked at nearly $120 a barrel.
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Israel has continued strikes across Iran and Lebanon and the Iranian regime has carried out more attacks, as the war continues for a tenth day.
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;Resize=(620)) New York ?City police said on Sunday a device that was ignited and thrown during protests outside Mayor Zohran Mamdani's home over the weekend was an explosive that could have caused serious injury or death.
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Oil continued its recent surge Sunday, hitting $100 per barrel for the first time since July 2022 as the ripple effects from the U.S. war on Iran continued to hit global markets.
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The U.S. announced the death of a seventh service member in the war with Iran on Sunday. Also on Sunday, Israel targeted Iran's oil facilities for the first time, with videos showing huge flames.
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Bahrain has accused Iran of striking a desalination plant as the regional war expands and targets more civilian sites in Gulf states.
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Trump and Netanyahu, two political high rollers, are seen as more of an odd couple than Roosevelt-Churchill or Clinton-Blair. The war in Iran is their biggest gamble yet.
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The new supreme leader was selected as environmental fallout from Israeli strikes on fuel depots blanketed parts of Tehran.
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Experts said the vessels are probably carrying a key precursor for rocket fuel, making it notable that Beijing let them sail while the U.S. and Iran are at war.
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;Resize=(620)) U.S. President Donald Trump's firing of Homeland Security Secretary Kristi Noem on Thursday overshadowed the announcement of his plans to nominate Republican Sen. Markwayne Mullin as her successor. But who is the Oklahoman tapped to take over the position?
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