Strait of Hormuz

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Pentagon Spent $11.3B on First 6 Days of Iran War: Sources

Pentagon briefs senators as war costs and casualties mount

(Newser) - The Iran war is burning through cash at a pace that stunned some senators: more than $11.3 billion in the first six days alone, according to Defense Department officials who briefed lawmakers behind closed doors this week. Three sources familiar with the session relayed the estimate to the New ...

Oil Price Soars Past $100 Again
Oil Soars Past
$100 a Barrel Again
Mar 12, 2026 1:00 AM CDT

Oil Soars Past $100 a Barrel Again

Traders question helpfulness of IEA reserve release amid protracted Middle East war

(Newser) - Oil traders got a record-breaking promise of relief—but apparently fear it may not be enough . Crude prices spiked more than 8% on Thursday, pushing global benchmark Brent back to $100 a barrel, even after governments pledged the largest emergency oil release ever coordinated by the International Energy Agency, CNBC...

Iran Strikes 2 Fuel Tankers in Iraqi Waters

UN Security Council condemns Gulf attacks as Iran steps up attacks on shipping

(Newser) - Two fuel tankers in Iraqi waters were attacked by Iran late Wednesday, setting both ablaze and killing at least one crew member, according to port officials and maritime security firms. The strikes, an escalation in Iran's attacks on shipping and oil infrastructure, came hours after three other commercial vessels...

2 Pipelines Could Ease the Pressure on Trump

Saudi, UAE lines bypassing Hormuz chokepoint are keeping crisis from spiraling, for now

(Newser) - Two long-ignored desert pipelines are suddenly doing a lot of the heavy lifting for the global oil system. With shipping through the Strait of Hormuz throttled by the Iran war and more than 1,000 vessels backed up, Saudi Arabia and the United Arab Emirates are pushing crude through overland...

IEA Weighs Record Oil Reserve Release to Counter Supply Shock
IEA OKs Historic Oil
Release Amid Iran War
UPDATED
Mar 11, 2026 10:25 AM CDT

IEA OKs Historic Oil Release Amid Iran War

400M barrels easily top 182M released after Russia's 2022 invasion of Ukraine

(Newser) - The International Energy Agency said Wednesday its 32 member nations will jointly release 400 million barrels from strategic stockpiles to blunt the energy shock from the war in Iran. That's its biggest coordinated drawdown on record and only the sixth such move. IEA chief Fatih Birol called it a...

US Says It Struck Iranian Minelayers

Central Command says 16 boats were hit near Strait of Hormuz

(Newser) - US Central Command said Tuesday night it had struck 16 Iranian vessels designed to lay naval mines near the Strait of Hormuz, a chokepoint that handles roughly 20% of the world's oil shipments. Video released with the statement showed munitions striking nine boats, many of them tied up at...

Iran Security Leader Issues a Personal Warning to Trump

Don't 'get eliminated yourself,' senior security official Ali Larijani cautioned Trump in online post

(Newser) - Iran's war of words with Washington just escalated alongside a sharp squeeze on global oil. Responding to President Trump's warning that any Iranian move to stymie oil traffic through the Strait of Hormuz would bring US retaliation "twenty times harder," senior security official Ali Larijani wrote...

Hegseth: Iran Is in for 'Most Intense Day'

Defense secretary promises heavy action as Iran missile launches continue to decline

(Newser) - Defense Secretary Pete Hegseth says Tuesday's action against Iran will mark the heaviest US aerial assault since the conflict began 10 days ago. Speaking at the Pentagon alongside Joint Chiefs Chair Gen. Dan Caine, Hegseth said Iran "stands alone" and is "badly losing," claiming Tehran has launched its fewest missiles...

Trump: Iran War Is 'Pretty Much' Complete

He says it's 'very far ahead of schedule'

(Newser) - President Trump suggested Monday that the war in Iran could be nearing the finish line. "I think the war is very complete, pretty much," he told CBS News correspondent Weijia Jiang. "They have no navy, no communications, they've got no air force. Their missiles are down...

It's the 'Biggest Disruption in World History' of Oil

Wall Street Journal analysis looks at the unprecedented 'squeeze' now underway

(Newser) - The Wall Street Journal pulls back for a 30-000-foot view of the Iran war's effect on the world's energy supply, under the sobering headline, "The Long-Feared Persian Gulf Oil Squeeze Is Upon Us." Tehran has essentially closed the Strait of Hormuz, meaning no crude is getting...

Hegseth: Iran War Is 'Bringing Your Enemy to Their Knees'

Defense secretary says US strikes will intensify until Iran's capabilities collapse

(Newser) - Defense Secretary Pete Hegseth says the outcome in Iran is already set: capitulation, whether Tehran says the word or not. In an interview with CBS' 60 Minutes , Hegseth said US strikes had hit roughly 3,000 targets in Iran as of Friday and warned the campaign is "only just...

Oil Soars Past $100 as Iran War Continues
Oil Surges Past $100,
Rattles Markets
UPDATED
Mar 9, 2026 6:54 AM CDT

Oil Surges Past $100, Rattles Markets

Rising crude prices stoke economic fears and market volatility

(Newser) - Oil just blew past a line many on Wall Street hoped wouldn't be crossed—$100 a barrel— and stock futures were reacting fast, CNBC reports. Before Monday's opening bell, Dow futures were down about 600 points, or about 1.2%, with the S&P 500 and Nasdaq 100...

Oil Surges Past $90 as Iran War Rattles Global Markets

Traders fear prolonged supply disruptions as shipping in Strait of Hormuz stalls

(Newser) - Oil is suddenly looking a lot more expensive—and investors are taking notice. US crude jumped nearly 9% Friday to top $88 a barrel, while Brent crude sailed past $90, putting both on course for their steepest weekly gains since early 2020 as the conflict involving Iran rattles global energy...

WH Advisers 'Getting Screamed at' Over Gas Prices

Politico: Chief of staff Susie Wiles seeking strategies to ease fuel costs after strikes on Iran

(Newser) - President Trump's chief of staff has put gas prices near the top of the West Wing's to-do list. Two energy executives tell Politico that Susie Wiles has directed advisers to show up in the Oval Office with concrete ideas for bringing down prices at the pump, which have...

Trump Makes Big Move on Strait of Hormuz

He says oil tankers will get naval escorts, insurance guarantees

(Newser) - With oil prices rising amid the US-led war on Iran, President Trump has moved to quell fears of an energy crisis. He said Tuesday that the US would provide naval escorts, if necessary, for oil tankers passing through the Strait of Hormuz. Around a fifth of the world's oil...

Get Used to One New Reality: Rising Gas Prices

They jump 11 cents overnight to $3.11 per gallon, as crude oil jumps, too

(Newser) - Drivers who track gas prices are in for an unpleasant surprise: The average cost of a gallon in the US rose 11 cents overnight to $3.11, reports the AP , citing data from the motor club AAA. The reason is no surprise: The Mideast is now engulfed in war , which...

Strait of Hormuz Showdown Could Be a 'Historic' One

Traffic through key waterway has ground to a halt, with higher oil prices looming

(Newser) - Oil tankers are all but sidelined in one of the world's most important energy conduits. Traffic through the Strait of Hormuz has plunged since US and Israeli strikes began on Iran , as ship operators steer clear of the narrow passage that usually carries about a fifth of the world'...

Rubio: We Have a Plan to Counter Oil Price Spike

Officials to roll out phased response as Iran tensions escalate, he says

(Newser) - Washington says it has a playbook ready as oil prices jump amid the US-Iran conflict, Politico reports. Secretary of State Marco Rubio said Monday the Trump administration will start rolling out a plan Tuesday aimed at easing the spike in crude prices that followed US strikes on Iran and retaliatory...

Oil Prices Surge More Than 8% on Fears of Iran War

Traders eye Hormuz choke point as tankers halt amid strikes

(Newser) - Oil traders jolted awake Sunday night as crude prices leapt more than 8% on fears that a widening US-Iran conflict could choke a crucial energy artery, CNBC reports. By early evening, US benchmark West Texas Intermediate was up $5.55 at $72.57 a barrel, while global benchmark Brent crude...

Washington's Iran Leverage: Lots of Firepower

Large military buildup continues as Trump weighs nuclear talks

(Newser) - The US is steadily massing warplanes and ships around Iran, giving President Trump the ability to launch the biggest air campaign in the region since the 2003 Iraq invasion—if he chooses to pull the trigger. F-35s, F-22s, and other fighters have been sent to bases in Jordan and Saudi...

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