Gas and Diesel Hit Record Labor Day Highs as Iran War Squeezes US Fuel Supply Fuel prices climbed to their highest levels ever recorded for Labor Day weekend this year, with regular gasoline averaging $4.14 a gallon and diesel hitting an all-time national record of $5.85 a gallon — a spike energy economists attribute largely … Read more
US Destroys Iranian Oil Tanker, Disables Two Others; Iran Declares “Proportionate Responses” Over U.S. forces struck three Iranian crude oil carriers on Saturday, September 5, destroying one and permanently disabling two others, after Iran’s Revolutionary Guard fired ballistic missiles at a U.S. aircraft carrier and guided-missile destroyer. Iran’s parliament speaker declared Sunday that the “era … Read more
US Launches New Strikes Inside Iran, Trump Warns of Even Bigger Response If Tehran Retaliates The U.S. military carried out a new, expanded round of strikes against Islamic Revolutionary Guard Corps targets across Iran on Tuesday, September 1, escalating a conflict that had just resumed after weeks of relative calm. President Trump called the strikes … Read more
US and Iran Trade Fire for First Time in a Month, Trump Vows to “Hit Them Hard” The United States and Iran exchanged military strikes overnight into Monday, August 31, for the first time in more than a month, reigniting a conflict that had entered a period of relative calm following weeks of diplomatic efforts … Read more
Treasury Vows “Toughest Sanctions in History” to Collapse Iran’s Government Treasury Secretary Scott Bessent said Thursday, August 20, that the United States will impose “the toughest sanctions in history” on Iran, unveiling the full package Monday, August 24, as President Trump’s administration shifts toward what officials are calling all-out economic warfare aimed at collapsing Tehran’s … Read more
Trump Claims “Total Control” of Strait of Hormuz as Ship Traffic Falls to One-Week Low President Trump declared Wednesday, August 12, that the United States maintains “total control” over the Strait of Hormuz, doubling down on a claim he first made to reporters a day earlier — even as actual shipping traffic through the waterway … Read more
US Navy Fires Missiles to Disable Ship Running Iran Blockade as Hormuz Standoff Drags On A U.S. Navy helicopter fired two Hellfire missiles into the engine room of a cargo ship early Tuesday, August 11, after its crew ignored repeated warnings while attempting to break Washington’s naval blockade of Iranian ports — the third vessel … Read more
Wall Street Braces for Wednesday’s CPI Report as Oil Rallies on Stalled Hormuz Talks Wall Street enters this week’s trading with two major forces pulling in opposite directions: a critical July inflation report due Wednesday that could tip the scales on whether the Federal Reserve raises interest rates next month, and a fresh oil rally … Read more
Iran Lays Out Sweeping New Demands for Reopening Strait of Hormuz After UAE Tanker Struck by Missile Iran’s Supreme National Security Council issued a new set of sweeping demands Saturday, August 8, for reopening the Strait of Hormuz — insisting the United States must lift its naval blockade, withdraw military forces from the region, and … Read more
Oil Tumbles as Wall Street Reacts to Trump’s Iran De-Escalation, With Jobs Report and Big Earnings Still Ahead This Week Oil prices dropped sharply to start the week after President Trump announced he had called off a planned military strike on Iran in favor of pursuing a diplomatic deal, giving markets a jolt of relief … Read more