How a U.S. strike on Iran could affect American drivers and borrowers
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Oil prices are climbing amid signs the U.S. may be planning to launch military strikes on Iran, raising questions about the potential economic fallout of heightened conflict in the region. Edited by Alain Sherter In:
Oil prices are climbing amid signs the U.S. may be planning to launch military strikes on Iran, raising questions about the potential economic fallout of heightened conflict in the region.
President Trump has ratcheted up pressure on Iran, home to some of the world's largest oil reserves, over the country's disputed nuclear program. Open hostilities between the countries could constrict global oil flows, raising U.S. energy prices and driving up inflation, according to economists.
While Mr. Trump hasn't yet made a final decision about whether to strike, top national security officials have told the president that the military could be ready as soon as Saturday, sources familiar with the discussions have told CBS News.
At the inaugural meeting for Mr. Trump's "Board of Peace" on Thursday, the president said Iran has about 10 days to make a deal ending its nuclear program, or "bad things will happen."
"Maybe we're going to make a deal," he said. "You're going to be finding out over the next probably 10 days."
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