With no clear end in sight, the war with Iran is sending oil prices back to $100 per barrel and stocks sinking worldwide on Thursday.
The U.S. said it took out more than a dozen mine-laying Iranian vessels Tuesday, and the Islamic Republic vowed to block the region’s oil exports, saying it would not allow “even a single liter” to be shipped to its enemies.
U.S. President Donald Trump said Monday that the war against Iran could be short-lived, but he left open the possibility of an escalation in fighting if global oil supplies are disrupted by the Islamic Republic, which chose a new hard-line supreme leader.
A Kentucky man who joined the Army straight out of high school is the seventh U.S. service member to die in combat during the Iran war, the Pentagon announced Monday.
Stock markets shuddered worldwide Monday on worries about whether the global economy can withstand spiking prices for oil, which briefly got to nearly $120 per barrel, their highest level since four summers ago.
Oil prices spiked near $120 per barrel Monday as the Iran war intensified, threatening production and shipping in the Middle East and pummeling financial markets.
U.S. President Donald Trump on Friday appeared to rule out talks with Iran absent its “unconditional surrender.”
Gas prices in the U.S. are the highest they’ve been in 11 months.
Republicans are invoking the war in Iran and the prospect of retaliatory terrorist attacks as they tee up votes Thursday on a funding bill for the Department of Homeland Security.
The House is preparing to vote Thursday on a war powers resolution to halt President Donald Trump’s attack on Iran, a sign of unease in Congress over the rapidly widening conflict that is reordering U.S. priorities at home and abroad.
