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Gulf Arab oil producers are cutting production as they run out of storage space because they can't export through the Strait of Hormuz
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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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Plus, the "slop bowl" is losing its appeal.
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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 selection of Mojtaba Khamenei sent a message of defiance against Donald Trump after U.S.-Israeli strikes killed his father Ayatollah Ali Khamenei.
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