Analysis: The U.S. is running out of ways to get oil prices down. It is up to the military.
CNBC
Iran's threat to the Strait of Hormuz can't be fixed by releasing oil from strategic petroleum reserves.
The Trump administration has rolled out a series of measures to attempt to blunt the blow of the Iran-driven oil-price hike, and yet prices remain stubbornly high.
As the war rolls on, it is becoming clear there isn't much the U.S. or any other government can do to provide relief from higher oil prices short of ending the conflict.
It will take a military breakthrough to get oil flowing and reduce energy prices. That means this episode is sharply different from past market crises that President Donald Trump has muddled through. A pattern of escalating political tensions followed by fast economic relief that has held through Trump's second presidency may finally be breaking.
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Federal Reserve Chair Jerome Powell has said he is being investigated ostensibly for comments he made about the pricey renovations of the Fed's headquarters.
The United States government could end up paying $165 billion of more in refunds for Trump's IEEPA tariffs that the Supreme Court ruled were illegal.
Iran's threat to the Strait of Hormuz can't be fixed by releasing oil from strategic petroleum reserves.
The House Oversight Committee has called in Tova Noel, who was working at the time of Jeffrey Epstein's death, for a deposition later this month.
Oil prices have skyrocketed in the days since President Donald Trump's war on Iran began.
Russian leaders told President Trump they aren't sharing intelligence with Iran as it fights the U.S. and Israel, Special Envoy Steve Witkoff said this week.
It comes at a time when the Caribbean island is grappling with a worsening economic crisis.
Analysts say any attempt to attack or seize Iran’s strategic oil hub is likely to be fraught with risk.
The Strait of Hormuz, the world's most critical chokepoint for oil shipments, has been effectively closed since the U.S. and Israel began the war on Iran.
His comments to CNBC come as the U.S. and Israeli-led war appears poised to enter its third week.
The U.S. Central Command said that the loss was "not due to hostile or enemy fire."
The State Department said this week that 36,000 Americans had returned to the U.S. after the start of the war with Iran.