Oil Prices Surpass $100 a Barrel as Trump Tells Allies to Get Their Own Oil
Key Takeaways
- Trump tells allies to 'get their own oil' from the Strait of Hormuz.
- U.S. gas prices top $4 a gallon amid Iran war disruptions.
- Strait of Hormuz disruptions curb oil tanker traffic and pressure prices.
Economic Impact
Trump insisted the economic damage would be a short-term hit.
“WASHINGTON — It’s no secret President Trump is fond of the Village People’s “Y”
Oil prices continued to rise and the average US gas price topped $4 a gallon.
The administration planned to request $200 billion to pay for the war.
Trump Tells Allies to Get Own Oil
Trump demanded allies go to the Strait of Hormuz and take their own oil.
The UK responded by sending additional air defense systems.
Iran maintained its blockade of the strategic waterway.
Pentagon Chief Declares War
Hegseth declared the United States had declared war on Iran.
“• Energy costs: The average US gas price hit $4 a gallon, the highest since 2022”
The IRGC threatened to strike U.S. tech companies in the Middle East.
The White House said the U.S. would respond if attacked.
Market Volatility
Brent crude surged 13.2% to $113.27 per barrel.
The S&P 500 swung 29 points.
More than 3,000 people have been killed across the Middle East.
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