Oil and gas prices have spiked with the war in Iran.
The oil price reached nearly $120 a barrel on Monday over fears of lengthy disruption to supplies.
Oil prices spiked after shipments through the Strait of Hormuz were disrupted amid the Iran war.
“I don’t know how anybody can be surprised. When you have a major conflict in the Middle East, prices always go up,” Sen. John Kennedy (R-La.) said.
EDITORIAL. The US president seems not to have anticipated that, by triggering a conflict in the Middle East, energy prices would soar, punishing Americans when they go to gas…
Last week, oil surged past the $100-a-barrel milestone, after recording its largest one-week spike since March 1983
Trump spins the surging oil prices as a win for the US as prices jumped back above $100 a barrel before dropping to $98 a barrel
The US president says higher oil prices benefit the country as Iran war pushes petrol costs above $100 per barrel
Trump claims US makes ‘a lot of money’ when oil prices go up, but rising costs could become political liability – key US politics stories from 12 March
“The United States is the largest Oil Producer in the World, by far, so when oil prices go up, we make a lot of money,” Trump said Thursday on his social media site.
Oil prices have skyrocketed in the days since President Donald Trump's war on Iran began.
Meanwhile, Moscow is getting a boost from the war's early days after Trump eased sanctions on some Russian oil shipments.