Oil prices shot past $100 a barrel Wednesday as fighting between the U.S. and Iran escalated, threatening to increase costs for consumers and businesses worldwide.
The U.S. military said it destroyed five Iranian oil tankers on Tuesday in response to the latest attacks on its warships.
The war in Iran has cost each American household $770 in increased fuel costs.
The U.S. military denied that Iran struck an uncrewed American military vessel in the Strait of Hormuz, calling the claim a “total lie.”
Vice President JD Vance on Thursday rejected the use of the word “war” to describe the U.S. fighting with Iran.
Diesel hit a record price in the U.S. on Friday, soaring to an average of $5.85 a gallon for the first time as the six-month war with Iran disrupts the world’s flow of fuel.
If you’re thinking of buying or selling a home, it’s going to cost you more to borrow money.
Iran fired on U.S. allies in the Gulf early Wednesday following a night of American bombardment that Iranian officials say included a deadly strike on a wedding party.
Treasury Secretary Scott Bessent announced a new round of sanctions aimed at Iran on Monday and warned every country that does business with the Islamic Republic to sever those financial ties or face retaliation from the United States.
Nearing the six-month mark of the Iran war and facing diminishing stockpiles of key weapons, the Trump administration is touting a crushing financial campaign against Tehran, promising an “economic D-Day” against a country that has so far withstood nearly five decades of punishing American sanctions.
