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Oil slides below $90 after surging to nearly $120 early in Monday's trading session
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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 escalating conflict in Iran is driving up oil costs, and in turn gas costs.
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Oil prices climbed on Monday, but finished below Monday's highs near $120 a barrel following talk by the Group of Seven nations of a potential emergency release of crude reserves.
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The latest Middle East tensions sheds light on how the world's three largest oil consumers have taken different approaches to energy, with global consequences.
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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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Gold prices declined on Monday, extending their loss from last week, as an escalating conflict with Iran drove fears of sticky inflation on the back of surging prices of oil, and investors again took shelter in the dollar.
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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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Live updates: Trump calls choice of Iran's leader a ‘big mistake' as war roils global economy CNNAs Iran war deepens, Khamenei's son named new supreme leader PBSTrump says he's "not happy" about Iran's new supreme leader, Mojtaba Khamenei CBS NewsLive updates: T
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Gold Slumps as Oil Surge Stokes Fears of Higher Interest Rates Bloomberg.comIran war updates: Trump says conflict may be ‘short-term' as oil fears rise Al JazeeraOil Prices and Stocks Swing Wildly as Iran and Israel Launch New Strikes - The New York Times The New York Times
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Interruptions in oil supplies in the Middle East, source of much of the world's energy, are trickling down to what American drivers pay when they fill up.
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Finance ministers for the seven industrialized countries met on Monday and said they would consider releasing oil from reserves but were not ready to do so now.
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Deflationary pressures ease as AI-related spending rises and Beijing clamps down on overcapacity
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