Episode Details

Oil prices surge as U.S.-Iran tensions escalate in the Strait of Hormuz, causing global fuel costs to skyrocket. Despite Irans promise to reopen the strait, President Trumps blockade and subsequent military actions have driven U.S. crude to $87.88 and Brent crude to $96.25. The conflict, now in its eighth week, has caused crude prices to swing wildly, from around $70 to over $119. Analysts warn of further price increases if the strait remains closed, with pump prices potentially staying above $3 a gallon until next year. A fragile ceasefire expires Wednesday, casting doubt on peace talks and keeping global fuel costs high.

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