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Brent crude has climbed near $90 a barrel after renewed US strikes on Iran and retaliatory attacks have disrupted shipping through the Strait of Hormuz and threatened alternate routes. Market risk has increased as Houthi moves against Saudi-linked shipping and US warnings and strikes have depleted spare reserves, pushing prices and fuel costs higher.
Saudi Arabia launches a defensive, coalition-led effort to secure Red Sea shipping routes as Houthi attacks and US-Iran tensions threaten freedom of navigation. The alliance aims to coordinate intelligence, exercises, and joint operations across signatories, with a focus on protecting vital energy corridors and maritime trade.
A new Empower analysis shows Americans’ net worth rises with age, reaching into the trillions for Silent and Baby Boomer generations. Younger generations trail, though 401(k) saving and IRA contributions are increasing. The shift signals a historic intergenerational wealth transfer that funds consumption and retirement across decades.
Oil prices rise as talks over reopening the Strait of Hormuz remain unsettled. Brent nears $90, and U.S. inventories stay tight amid ongoing tensions and political maneuvering.
Oil prices have risen as Iran-US talks stall over reopening the Strait of Hormuz. The Strait remains closed, with traders watching for any breakthrough that could unlock supply routes. Brent hovers near $85, while US crude trades around $80 as markets weigh a potential peace deal and the risk of sustained disruption.
Gas prices have risen nationwide, with California remaining the most expensive state. The national average sits near $4.08 per gallon, while California averages above $5, driven by ongoing oil market volatility and policy dynamics. President has scheduled talks with refining executives to address prices.
Diesel prices have surged amid renewed Middle East tensions and sanctions, with US and UK prices rising sharply. Analysts warn higher diesel costs are feeding inflation, impacting farmers, truckers and households. The spike follows strikes on refineries and export bans that have cut global supply.
Gas prices have reached Labor Day highs as US-Iran hostilities persist and a Venezuela oil deal faces questions over enforceability and impact on supply. Officials see potential downward pressure as demand cools after summer, but uncertainty remains about how quickly prices will fall.
Diesel prices have reached a new peak in the US driven by geopolitical tensions and global refining bottlenecks. Banks warn the energy shock could ripple through inflation, shipping and consumer costs as diesel prices push up trucking, rail and logistics expenses.
Diesel prices have surged to new highs in the UK amid global supply disruptions linked to the Iran war and Russia-Ukraine conflict. The US is weighing export bans to ease domestic pain, while Europe and the UK face rising costs and tight supplies. Authorities warn prices will likely rise further as markets react.
The United States has struck a deal to receive hundreds of thousands of tons of Russian diesel to the global market, while U.S. diesel prices stay elevated ahead of midterm elections. Analysts warn the move will not guarantee relief at the pump, as global markets and refinery capacity shape prices. Zelensky condemns the plan as a gift to Putin.