Iran War Drives Deeper Oil Shock Than Prices Reveal
The war with Iran is preventing huge amounts of oil from flowing out of the Persian Gulf, but the prices that many people track don’t fully capture the scale of the disruption.
The war with Iran is preventing huge amounts of oil from flowing out of the Persian Gulf, but the prices that many people track don’t fully capture the scale of the disruption.
Vice President JD Vance is leading negotiations this weekend toward an end to a war that he had opposed starting.
Even after a cease-fire, Iran is keeping a chokehold on traffic, forcing countries to cut deals that could put them at odds with the U.S.
President Trump is citing the unwillingness of European nations to back the United States in the conflict as another reason to scale back or abandon the alliance. And he still wants Greenland.
Britain, France and the European Union condemned Israel’s strikes targeting Hezbollah in the country, saying these threatened the truce.
President Trump lashed out after hosting Mark Rutte, NATO’s secretary general, at the White House on Wednesday.
After careening from one diplomatic extreme to another, President Trump finds himself with a fragile deal that is already showing signs of fraying.
Pakistan’s prime minister posted a public plea on X for President Trump to extend his Tuesday evening deadline for Iran. The White House was directly involved in shaping the message.
On the first day of the pause, Iran fired missiles and launched drones in the region. It said an oil refinery on Lavan Island had been attacked. Israel continued its strikes in Lebanon.
Analysts said oil and natural gas energy companies would not quickly restore production unless attacks stopped and ships started moving through the Strait of Hormuz.