Ultra-low-cost carrier Spirit Airlines prepares to cease operations after a Trump administration bailout deal falls through, with Iran-war-driven oil prices proving the final blow.
Iran sends response to U.S. amendments on draft peace agreement via Pakistani mediators, pushing international oil prices sharply lower as Brent crude falls below $110.
US gasoline prices have jumped nearly 30 cents in one week to $4.30 per gallon, driven by the Iran war and the Strait of Hormuz blockade.
Oil prices surged to their highest level since 2022 after Axios reported US Central Command prepared strike plans against Iran; the Bank of England held rates but warned Middle East conflict could fuel inflation.
Brent crude surged past $126 a barrel — the highest since 2022 — after reports the US military is preparing new strike options against Iran. The ongoing closure of the Strait of Hormuz continues to disrupt global energy supplies.
U.S. officials reveal the Iran war’s true cost is closer to $50 billion, roughly double the Pentagon’s public estimate of $25 billion, as oil prices surge to a four-year high.
The Bank of England’s Monetary Policy Committee votes to hold the base rate at 3.75%, but warns that energy price shocks from the Iran conflict could force rate hikes within the year.
Brent crude surges past $126 per barrel to a four-year high as US-Iran tensions escalate; Pentagon estimates Iran war cost at $25 billion.
International oil prices surged to their highest level since 2022 after President Trump warned the naval blockade against Iran could last months, as the US seeks international coalition to reopen the Strait of Hormuz.
The Federal Reserve kept interest rates unchanged at its April meeting, with growing divisions among policymakers on future direction. Meanwhile, oil prices surged above $120 per barrel due to the Iran conflict, intensifying inflation concerns.