Apr 19 Oil prices spike again following latest standoff in the Strait of Hormuz By Wyatte Grantham-Philips, Associated Press The ongoing conflict with the U.S. and Iran prevented tankers from passing through. The price of U.S. crude oil increased 6.4% to $87.88 per barrel after trading resumed on the Chicago Mercantile Exchange. The price of Brent crude, the international… Continue reading
Apr 17 Oil prices plummet as Wall Street rallies to new record following Strait of Hormuz reopening By Stan Choe, Associated Press Oil prices are falling by more than 10%, and Wall Street is rallying toward another record after Iran said the Strait of Hormuz is fully open, which would allow oil tankers to exit the Persian Gulf again and carry crude… Continue reading
Apr 17 Iran reopens Strait of Hormuz as U.S. blockade remains By Kareem Chehayeb, Abby Sewell, Elena Becatoros, Associated Press The president's decision to continue the blockade despite Iran’s announcement appeared aimed at sustaining pressure on Tehran. Continue reading
Apr 16 What lagging jet fuel supplies could mean for airlines and travelers By Mae Anderson, Cathy Bussewitz, Wyatte Grantham-Philips, Associated Press A looming jet fuel shortage in Europe and Asia sparked by the Iran war and the effective closure of the Strait of Hormuz could further upend world travel within weeks if oil doesn't start flowing again soon — meaning higher airfares and flight cancellations as the… Continue reading
Apr 13 Watch 5:15 U.S. begins Strait of Hormuz naval blockade after Iran peace talks fail By Liz Landers, Zeba Warsi The U.S. began a blockade of Iranian ports on Monday, less than two days after a first effort at peace talks between the Americans and Iran failed in Pakistan. White House correspondent Liz Landers reports. Continue watching
Apr 13 Watch 8:58 Mideast experts discuss how the U.S. blockade could pressure the Iranian regime By Amna Nawaz, Dan Sagalyn For perspective on the situation with Iran, Amna Nawaz spoke with Alan Eyre and Miad Maleki. Eyre was part of the Obama administration's negotiating team for the Iran nuclear deal and is now at the Middle East Institute. Maleki was… Continue watching
Apr 13 Surging oil prices spark protest in Haiti as workers demand salary increases By Evens Sanon, Associated Press More than 1,000 workers have organized a protest in Haiti’s capital to demand a higher minimum wage as the conflict in Iran deepens and drives up oil prices. Continue reading
Apr 13 Oil prices give back much of their morning jump as U.S. stocks climb on a still hopeful Wall Street By Stan Choe, Associated Press Hope remains on Wall Street that both sides can still avoid a worst-case scenario for the global economy in the US-Iran war, and U.S. stocks climbed. Continue reading
Mar 24 Watch 7:05 Chicago Fed president breaks down economic risks of Iran war By Geoff Bennett, Karina Cuevas Oil prices are hovering near $100 a barrel and it's raising new questions for the Federal Reserve as it tries to navigate between high inflation and a cooling job market. Chair Jerome Powell said last week the central bank is… Continue watching
Mar 23 Small comforts fade and big worries grow as fuel prices surge around the world By Matt Sedensky, Associated Press Even as glimmers of hope for a potential breakthrough in the war in Iran emerged, the conflict persisted for a 24th day on Monday and the vital oil pathway of the Strait of Hormuz remained at a virtual standstill. Continue reading