Global markets roiled as U.S.-Iran strikes lift oil

 

Global oil benchmarks Brent and West Texas Intermediate rose about 3% in early trading on Monday, June 1, 2026, after new U.S. military strikes on Iranian targets heightened tensions in the Gulf region. The escalation has increased uncertainty around fragile negotiations over extending a ceasefire intended to secure shipping through...

Nationwide Gas Prices Fall amid Diplomatic Optimism

 

United States — Gas prices fell across all 50 states last week, with the national average declining about 19.5 cents to $4.26 per gallon, GasBuddy reported. Minnesota's average dropped 18.5 cents to $4.12 per gallon, and 15 states saw their average price fall below $4.00 a gallon. The national average...

United States inflation gauge climbs, complicating Fed outlook

 

U.S. inflation accelerated in April, with a key Federal Reserve gauge rising to 3.8%, the highest level since May 2023, the Commerce Department reported on May 28. The annual rate, up from 3.5% in March, and a 0.4% monthly increase underscore broad-based price pressures in groceries, clothing, electricity, and gasoline....

Iran condemns new US strikes amid oil price rebound

 

The United States carried out fresh strikes in southern Iran on Tuesday, targeting missile launch sites and vessels suspected of laying sea mines, according to US Central Command, which said the actions aimed to protect American forces. Iran’s Islamic Revolutionary Guard Corps accused Washington of violating an ongoing ceasefire and...

Regional gas prices fluctuate as oil optimism eases

 

United States: Local gas stations across multiple states reported mixed pump price movements this week, with central Ohio and Toledo seeing recent increases while Indiana and parts of Wyoming registered notable declines, according to weekly GasBuddy and AAA surveys released this week. Reported averages varied widely across markets and station-to-station...

United States faces costliest Memorial Day gasoline since 2022

 

Americans are paying an average of $4.51 per gallon for gasoline on Sunday, May 25, 2026, making this Memorial Day weekend the most expensive at the pump in four years, according to AAA. Prices are being driven by the ongoing U.S.-Israel war with Iran and the near-total closure of the...

United States gas prices surge on Hormuz disruption

 

The average U.S. price of regular gasoline reached $4.55 per gallon on Friday, May 22, 2026, the highest level for the Friday before Memorial Day since 2022. Prices have risen more than 50 percent since February 28, 2026, when U.S. and Israeli forces began military operations against Iran. The conflict...

Washington Fed officials weigh rate hikes amid inflation

 

Federal Reserve officials signaled that interest rate increases may be necessary if inflation pressures linked to the Iran war persist, according to minutes released Wednesday from the latest Federal Open Market Committee meeting in Washington. The FOMC kept the benchmark federal funds rate unchanged in a 3.5%-3.75% target range, but...

U.S. Gas Prices Surge Amid Iran Conflict Disruptions

 

United States: Gasoline prices rose sharply this week as reports linked the increase to the Iran conflict and disruptions in the Strait of Hormuz, pushing the national average to about $4.55 per gallon on Wednesday, May 22, according to AAA figures cited by international and local outlets. Local averages vary,...

Germany: Fed’s Waller Signals Possible US Rate Hike

 

Speaking at an economic forum in Frankfurt on Friday, Federal Reserve Governor Christopher Waller said the U.S. central bank should remove its “easing bias” from its policy statement, signalling that future rate cuts are off the table for now and that a rate increase may need consideration. Waller stressed he...