While the president has promised rapid relief, Americans could feel the financial sting of the conflict for some time after it ends.
Our national security correspondent David E. Sanger looks at President Trump’s trouble handling retaliatory attacks by Iran that have largely choked off the Strait of Hormuz.
American and European oil and gas companies are expected to earn a lot more as prices surge but are worried about the future.
The Israeli military said its campaign against Hezbollah in Lebanon would intensify, while Iran threatened to attack civilian infrastructure if President Trump followed through with an ultimatum.
In the first days of the U.S.-Israeli campaign against Iran, Mr. Trump pressed for a popular uprising against Tehran’s government.
The president was cagey about his plans for Iran. He confirmed the Pentagon was seeking $200 billion to support a protracted war effort while also claiming it would be over soon.
President Trump and Prime Minister Benjamin Netanyahu of Israel suggested that the war with Iran could end soon, but that there were still more attacks ahead.
Treasury Secretary Scott Bessent said removing sanctions on Iranian oil would lower global prices.
The trade organization said that a slowdown in trade in 2026 could become even more extreme if the war in the Middle East persists.
The request, which the White House has not yet submitted to Congress, is already encountering some resistance.