US EditionGas Prices Rise as Oil Hits $111 a Barrel
U.S. gasoline averages rose to $3.84 per gallon, the highest since September 2023, as Brent crude surged above $111 due to Middle East supply disruptions, AAA reported.
- On Tuesday, U.S. gasoline prices topped $5 a gallon for the first time since 2022 as the war with Iran continues to disrupt energy infrastructure and shipping in the Strait of Hormuz.
- Brent crude surged from roughly $70 to more than $110 per barrel, while Iran threatened to attack oil facilities in Qatar, Saudi Arabia, and the United Arab Emirates.
- Wall Street stocks slumped Thursday as inflation at the U.S. wholesale level unexpectedly accelerated to 3.4% last month, compounding investor concerns about interest rates.
- President Donald Trump issued a 60-day waiver of the Jones Act on Wednesday to ease energy prices, though energy analyst De Haan dismissed the measure as a "band-aid" solution.
- Federal Reserve Chair Jerome Powell expressed uncertainty about how long oil prices will remain elevated and when Trump's tariffs will work through the economic system.
42 Articles
42 Articles
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The Independent
The Independent (US)Why $138 is the key mark for oil prices and what it means for the US economy
Analysts are keeping a close eye on the developments in the Middle East amid President Donald Trump’s war on Iran, and are paying particular attention to oil prices
Gas jumps to two-year high of $3.84 as Iran war tightens global oil supply
Gas prices in the U.S. have climbed sharply, with the national average now at $3.84 a gallon. The increase follows a rapid rise in global oil prices tied to the war in Iran and disruptions to key supply routes. That’s up nearly a dollar from a month ago and the highest level since September 2023, according to AAA. Diesel is climbing too, topping $5 a gallon nationwide and clearing $6 in some states. Oil surge drives price spike The increase is t…
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Wall Street is sounding the alarm as Trump's Iran war threatens to crater an already fragile economy, with financial analysts warning the protective guardrails shielding the U.S. from economic catastrophe are rapidly eroding.Just three weeks into the conflict, the damage is already mounting. Oil pri...
Malta’s exposure to oil is a weakness of our own design
At the time of writing, the war in Iran has pushed the price of a barrel of oil to the $100/barrel mark.Almost doubling the average pre-war price in a matter of weeks due to the attacks on maritime traffic through the Persian Gulf and damage to pumping infrastructure. Europe and the rest of the world...
Associated Press News
Brent crude nears $115 as energy prices surge after Iran attacks Gulf energy facilities
Global oil and natural gas prices have soared after Iran attacked a key natural gas facility in Qatar that can supply one-fifth of the world's gas, and two oil refineries in Kuwait.
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