Crude oil prices spike above $115 a barrel as the Iran war impedes production and shipping
ABC News
Oil prices have briefly spiked near $120 a barrel early Monday as the Iran war disrupted oil production and shipping in the Middle East
CHICAGO -- Oil prices spiked near $120 per barrel before falling back slightly on Monday as the Iran war intensified, threatening production and shipping in the Middle East and pummeling financial markets.
The price for a barrel of Brent crude, the international standard, surged to $119.50 per barrel but later was trading at $112.98.
West Texas Intermediate, the light, sweet crude oil produced in the United States, spiked at $119.48 per barrel but fell back to $110.17.
The war’s toll on civilian targets grew as Bahrain accused Iran of striking a desalination plant vital to drinking water supplies, and oil depots in Tehran smoldered following overnight Israeli strikes.
Oil prices have surged as the war, now in its second week, ensnares countries and places that are critical to the production and movement of oil and gas from the Persian Gulf.
Shohei Ohtani and Ronald Acuña Jr. got the World Baseball Classic quarterfinal off to a pulsating start, combining for the first WBC game with two leadoff homers
Powerful winds and extreme weather are knocking out power, damaging property, and fueling wildfires across parts of the United States
The Justice Department has moved to dismiss charges against an Army veteran who set fire to an American flag near the White House last year to protest President Donald Trump’s executive order on flag burning
Kyrsten Sinema says in a legal document that she had a romantic relationship with a member of her security detail, but her lawyer argues a lawsuit seeking damages against her should be dismissed
Congressional Republicans are pushing voting legislation that's backed by President Donald Trump and would require voters to produce documentary proof of citizenship in order to register for federal elections
President Donald Trump says the U.S. destroyed military sites on an island vital to Iran’s oil network and warned that the island’s oil infrastructure could be next if Iran continues to interfere with the passage of ships through the Strait of Hormuz
The winning numbers in Friday evening’s drawing of the "Mega Millions" game were: 06-19-36-40-55, Mega Ball: 9, Megaplier:
As the U.S. and Israel’s war against Iran continues to upend energy markets and supply chains worldwide, the Trump administration says it might suspend maritime shipping requirements under a more than century-old law known as the Jones Act
A federal judge in Massachusetts is temporarily blocking the Trump administration from ending Temporary Protected Status for Somalis in the U.S. The judge issued an administrative stay on Friday
An Oregon Army National Guard helicopter rescued an injured logger from Mount Hood National Forest after rough terrain blocked other options
A Wisconsin legislator has pleaded guilty to a misdemeanor count of disorderly conduct in connection with a bitter feud with her caucus over resolutions honoring Hispanics
The State Department has slashed by about 80% the fee for Americans to formally renounce their U.S. citizenship
A federal judge has dismissed a lawsuit filed by the family of a man who died after Mobile police shocked him multiple times with a Taser in 2023