Politics

Trump’s Iran War Triggers Global Oil Crisis as Tehran Threatens $200 Per Barrel

Trump’s Iran War Triggers Global Oil Crisis as Tehran Threatens $200 Per Barrel

The Trump administration's military campaign against Iran has triggered a global energy crisis with oil prices threatening to hit $200 per barrel. Iranian forces have blockaded the Strait of Hormuz, attacked commercial shipping, and launched cyberattacks against American companies as the first week of conflict costs taxpayers $11.3 billion.

California Gas Prices Hit $5.33 as Iran Conflict Roils Global Oil Markets

California Gas Prices Hit $5.33 as Iran Conflict Roils Global Oil Markets

California gas prices have surged to $5.33 per gallon—nearly $1.80 above the national average—as the U.S.-Iran conflict disrupts global oil markets through the Strait of Hormuz. Governor Newsom blames Trump's military action, while critics point to the state's climate policies and nation-leading gas taxes.