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MIAMI — President Trump said Monday that he’s brought prices down so much that Democrats have stopped using the word “affordability.” “They also gave us very high prices and then they said the word, ‘affordability.’ That’s first time I ever heard it,” Trump said at the annual House Republican retreat in Miami. “My first day in office, they said, ‘affordability,’ They’re the ones that caused the problem,” he continued. “But we’re really bringing down prices big. “Do you notice you don’t hear that word anymore? … They don’t say it anymore because we brought down prices so much.” Trump said...

Futures for the Dow Jones Industrial Average and other major stock indexes traded slightly lower ahead of Tuesday's open, after President Donald Trump's comments on the U.S.-Iran conflict Monday sparked a stock market reversal. Oil prices tumbled after spiking above $119 a barrel in volatile trading. Broadcom shares jumped 4.6% Monday, bullishly retaking its 50-day moving average. Shares are forming a new base. Micron stock found much-needed support at the 50-day line, reversing up 5.1%. Nvidia stock erased early losses to rally 2.7% Monday. Shares found support at their long-term 200-day line, but remain below their 50-day. Finally, Tesla shares...

The Trump administration and Israeli officials are reportedly discussing a high-stakes shift in the conflict: the direct seizure of Kharg Island, Iran’s primary economic artery. While special operations plans originally focused on securing Iran’s 450-kilogram stockpile of highly enriched uranium, the strategic conversation has expanded to physically capturing the terminal that handles roughly 90% of Iran’s crude oil exports, according to Axios. The ultimate goal, according to former Lockheed marketing executive Jarrod Agen, now the director of the National Energy Dominance Council, is to take control of Iran’s oil. “Ultimately, we’re not going to have to worry about these issues...

At present, there is no sign of de-escalation in the Iran conflict. The Strait of Hormuz has become a geopolitical chokepoint that could plunge the global economy into a severe crisis. While European governments work on emergency plans to mitigate soaring energy prices, the maritime insurance market is experiencing a seismic shock. War is raging in Iran. Amid the fog of propaganda, it is increasingly difficult to separate fact from fiction, to distinguish AI-generated material from actual bomb strikes, and to see behind the carefully woven veil of media spin and national interests. Yet, we attempt here to make sense...

Investing.com - U.S. stocks were a sea of red on Monday as the escalating conflict in the Middle East pushed oil prices to $100 a barrel, raising fears that higher energy costs could weigh on the economy. At 09:43 ET (13:43 GMT), the benchmark S&P 500 index slid 1.2% to 6,655.57 points, the tech-heavy NASDAQ Composite slumped 1.3% to 22,103.06 points, and the blue-chip Dow Jones Industrial Average shed 1.4% to 46,846.08 points.

President Trump said Sunday that increasing prices of oil are “a very small price to pay” for “safety and peace” amid the U.S. conflict with Iran. “Short term oil prices, which will drop rapidly when the destruction of the Iran nuclear threat is over, is a very small price to pay for U.S.A., and World, Safety and Peace,” Trump said in a Sunday evening Truth Social post. “ONLY FOOLS WOULD THINK DIFFERENTLY!” he added. The U.S. conflict in Iran caused a recent surge in domestic oil and gas prices, with the U.S. national average for a gallon of regular gasoline...

One of the concerns about the military action against Iran is whether it would put the transport of oil in danger regarding things like traversing the Strait of Hormuz, through which about 20 percent of the global energy supply moves. The Trump administration had the national average gas price down below $3.00 a gallon, but due to those concerns gas prices rose last week. Secretary of Energy Chris Wright hit the Sunday shows to reassure people that the spike would be temporary. Here's what he said to Fox's Shannon Bream:.@SecretaryWright: "The plan is to get oil, and natural gas, and...

Iran has threatened to attack any oil tanker passing through the Strait of Hormuz, through which 20% of the world’s oil transits. US oil futures rose 18% to about $108 a barrel, their highest level since July 19, 2022. Brent futures, the global benchmark, increased 16%, near $108 a barrel. Surging oil prices have weighed heavily on stocks in recent days, as traders fear that a prolonged spike in fuel prices could lead to another spike in inflation and hurt the economy. Dow futures dropped more than 800 points, or 1.7%. S&P 500 and Nasdaq futures fell 1.6%. Triggered by...

The Trump administration has turned Venezuela into a significant U.S. oil supplier, Interior Secretary Doug Burgum said Sunday, arguing the shift will help offset Middle East disruptions and ease pressure from the global shipping crisis. "[Venezuela] was a sanctioned adversary, and now they're a strategic ally with the largest reserves with no threat of the chokehold like we have in the Strait of Hormuz," Burgum told "The Sunday Briefing." "Venezuelan oil can flow to America freely and is starting to flow, will continue to flow, and these are the kinds of things that are going to bring gas prices down...

Last | 6:25 PM EDT $108.17 up+$17.27 (+19.00%)

Gas prices will dip below $3 a gallon “again before too long,” Energy Secretary Chris Wright promised Sunday — as he denied the US was targeting energy infrastructure in Iran. “The Trump administration has been all in on lowering energy prices, and I would say quite successfully,” Wright told CNN’s “State of the Union” on Sunday. “We have seen a dramatic decline in gasoline prices, in diesel prices. Soon, you will see it in electricity prices as well.” The national gas price average is $3.45 a gallon as of Sunday, per the American Automobile Association. It was just below $3...

Global oil prices could breach the $100 (£74) a barrel mark within days, and reach $150 a barrel by the end of the month, without a solution ​to the severe disruption in crude flows through the strait ‌of Hormuz, Goldman Sachs has warned. Oil exports via the vital trade route linking the world’s biggest oil producers to buyers in the global market have fallen further than the US investment bank had initially expected after the US-Israeli attack on Iran a little over a week ago. Goldman Sachs had anticipated that flows of crude through the strait would fall to 15%...

Israel Air Force strikes Iranian oil facilities, military source says. Earlier, Iranian state media had reported that the Islamic Revolutionary Guards Corps said it had targeted the Haifa oil refinery in response. By Yonah Jeremy Bob. March 7, 2026. IDF sources confirmed to The Jerusalem Post on Saturday night that the air force has attacked significant oil resources in the Tehran region of Iran. According to the sources, the oil resources being attacked are directly connected to Iran's military industrial complex. ... there was a clear effort by the sources to emphasize the military nature of the sites, which might...

Special bonus edition: Does Trump have a plan to avert an oil crisis that could end his presidency, or is it all just chaos and reckless brinksmanship? The pundits say chaos. Here's another take. Good morning, loyal C&C supporters, it’s Sunday— and if you woke up panicking about Iran, this post is your antidote. Welcome to Daylight Saving Time (DST). Change your clocks, and congratulations if you are like Michelle (i.e., certifiable) and love the extra hour of daylight after dinner in exchange for two months of jet lag and brain fog. Today we have an emergency special edition roundup,...

A commercial oil tanker was set ablaze in the Strait of Hormuz after it was struck by an Iranian suicide drone, the country’s Islamic Revolutionary Guard Corps said Saturday, with a US Navy mission to safeguard ships through the region possibly still weeks away. The IRGC claimed the tanker — the Prima, sailing under a Maltese flag — had ignored repeated warnings not to enter the strait, according to Tasnim News Agency, Iran’s state media. The flow of oil through the strait — one of the world’s most vital energy arteries connecting the Persian Gulf with the Gulf of Oman...

Russia has a question for the European countries that have shunned its energy exports: Do you miss us now? The Kremlin is enjoying a sudden resurgence of its importance as a global supplier of oil and gas, as the conflict in Iran disrupts energy production and shipment across the Middle East and sends global energy prices soaring. “Now other markets are opening up, and perhaps it’s more advantageous for us to stop supplying the European market right now,” Mr. Putin said on Wednesday to a state television reporter, Pavel Zarubin, who chronicles the Russian leader. “We are seeing an increase...

After slapping 25% "penalty" tariffs on India for buying Russian crude — revoked last month — the U.S. on Thursday issued a 30-day waiver to New Delhi for purchasing crude from Moscow as the Iran war upends global supplies. The West Texas Intermediate oil surged 8.51%, or $6.35, to close at $81.01 per barrel on Thursday in the biggest single day gain since May 2020. Global benchmark Brent rose 4.93%, or $4.01, to settle at $85.41 per barrel. The waiver on purchasing Russian oil will help ease supply worries globally, as India is the world's fourth biggest refiner and and...

China is in talks with Iran to allow crude oil and Qatari liquefied natural gas vessels safe passage through the Strait of Hormuz ​as the U.S.-Israeli war on Tehran intensifies, three diplomatic sources told Reuters. The war, ‌which entered its sixth day on Thursday, has left the critical shipping passageway all-but shut, with countries around the world cut off from a fifth of global oil and liquefied natural gas supplies. China, which has friendly ​relations with Iran and relies heavily on Middle Eastern supplies, is unhappy about the ​Islamic Republic's move to paralyse shipping through the Strait and is pressing...

A widening Middle East conflict has posed a fresh test for global central banks, as fears of an oil shock and renewed inflation risks complicate policymakers’ calculus for shoring up growth. Crude prices soared on Monday after the U.S. and Israel launched strikes on Iran over the weekend, killing Iranian Supreme Leader Ali Hosseini Khamenei. Tehran responded with missile attacks targeting multiple Gulf countries. Tanker traffic through the Strait of Hormuz, the world’s most critical chokepoint for oil shipments, has effectively stalled as the threat of attacks from Iran deterred vessels from passing through the waterway. Brent crude prices extended...