Iran launched a wave of missile and drone attacks on Gulf Arab energy sites, hitting refineries in Saudi Arabia and Kuwait and a Qatari LNG plant, sparking major fires and sending Brent crude to $118.
The International Maritime Organization held an emergency meeting in central London Wednesday, searching for solutions to protect shipping amid a spreading war in the Middle East.
On Wednesday, the White House said that it would suspend Jones Act requirements for 60 days, amid wider efforts to counter steep oil prices and cargo disruptions due to the war.
The Labor Department reported Wednesday that its producer price index — which measures inflation before it hits consumers — rose 0.7% from January, and 3.4% from February 2025.
The pain of rising fuel costs is pinching American wallets, particularly when it comes to diesel. Most cars on the road don’t fill up with diesel, but it’s the lifeblood of some major industries.