Oil Prices Reach Four-Year High

U.S. crude climbing above $109 per barrel. The increases followed reports that President Trump would review new military options against Iran amid stalled talks and Iran's restrictions on the Strait of Hormuz, through which a fifth of the world's crude oil passes.

Multiple sources confirmed the price jumps, attributing them directly to the ongoing US-Iran war that began in late February. Gasoline prices in the United States also rose with California surpassing $6 per gallon for the first time since 2023. 50 per gallon in coming weeks.

The White House held meetings with Chevron and oil traders to address shrinking supplies.

75% on Thursday, citing uncertainty from the Iran war and its impact on energy prices. Policymakers signaled readiness to raise rates if the energy shock persists, as inflation measures jumped to three-year highs in March due to soaring gas costs. The decision reflected assessments of potential longer-term economic damage from prolonged disruptions.

Similarly, the Federal Reserve held interest rates steady on Wednesday in a split 8-4 vote, marking its third consecutive meeting without changes. The decision came amid higher energy costs and disagreements among officials. U.S. 30-year Treasury yield hit 5% for the first time since July 2025, following pushback from three Fed dissenters against easing guidance.

U.S. Central Command for short and powerful attacks. Secretary of Defense Pete Hegseth faced congressional questioning on the war's costs, estimated at $25 billion so far, and declined to specify its duration. Dan Caine appeared before the House Armed Services Committee, stressing needs for more drones, missile defenses, and warships.

“So wish fulfillment is not really a strategy. " — Rep. U.S. blockade of Iranian ports and ships was doomed to fail, while President Trump maintained it would force Iran to accept peace terms. A key Iranian leader mocked the Trump administration, predicting oil prices would reach $140 per barrel.”