Oil rallies as Iran strikes trigger market shock, with limited relief from sanctions
TL;DR
Oil prices jump on Iran-related strikes, with Brent near $89 and U.S. gasoline averaging about $3.32/gal after a 32-cent weekly rise. The Trump administration imposed a short-term sanctions waiver to let Indian refiners buy more Russian oil, a move some analysts see as insufficient to calm markets. Experts say a sustained price drop hinges on resumed oil flows through the Strait of Hormuz, while Saudi shipments help but don’t fully offset the disruption.
- Energy woes deepen as Trump team looks to soften blow Axios
- Susie Wiles sounds the alarm on gas prices Politico
- Exclusive: Trump on rising gas prices during Iran operation: 'If they rise, they rise' Reuters
- Here's how the U.S.-Iran war is already hitting consumers' pocketbooks CNBC
- Trump Administration Eyes All Options to Tame Oil Prices Bloomberg
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