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Trump lashes out at allies as Iran war pushes fuel prices higher
Gas prices eclipse $4 a gallon in the US, the highest since 2022
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NEW YORK (AP) - U.S. stocks fell again as oil prices keep climbing because of uncertainty about when the war with Iran could end. The S&P 500 fell 0.4% Monday and deepened its losses to pull 9.1% below its record set early this year. The Dow Jones Industrial Average edged up 0.1%, and the Nasdaq composite fell 0.7%. Caution was prevalent throughout markets.
KYIV, Ukraine (AP) – European foreign ministers visited Ukraine on Tuesday to mark the fourth anniversary of atrocities committed in a town near Kyiv by Russia’s invading forces. European governments are keen to keep a spotlight on the continent’s biggest land war in decades, now in its fifth year.
Authorities in Dubai said Tuesday morning they “contained” a Kuwaiti oil tanker after it came under attack from Iran. Officials said there was “no oil leakage and no injuries reported.” The U.S.-Israeli war with Iran has caused major disruptions to the world’s supply of oil and natural gas, roiling global markets, and left more than 3,000 dead.
Politics
NEW YORK (AP) – U.S. gas prices jumped past an average of $4 a gallon for the first time since 2022 on Tuesday, as the Iran war pushes fuel prices to soar worldwide. According to motor club AAA, the national average for a gallon of regular gasoline is now $4.02 – over a dollar more expensive than before the war began.
Politics
FRANKFURT, Germany (AP) – Europe’s inflation rate rose to 2.5% in March as the Iran war sent fuel prices sharply higher, official figures showed Tuesday. And that is leading analysts to pencil in interest rate increases by the European Central Bank later this year.
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CAMBRIDGE, Mass. (AP) – Federal Reserve Chair Jerome Powell said Monday that it is important to closely monitor inflation amid a spike in energy prices from the Iran war. Powell said there wasn’t a lot Fed policymakers could do since energy shocks “tend to come and go pretty quickly” and monetary maneuvers work over the longer-term.
Politics
DUBAI, United Arab Emirates (AP) – A likely strike by the United States hit the central Iranian city of Isfahan early Tuesday, sending a massive fireball into the sky, and Tehran struck a fully loaded Kuwaiti oil tanker in the Persian Gulf. The attacks were testament to the intensity of the monthlong war the U.S. and Israel launched against Iran.
Politics
NEW YORK (AP) – U.S. gas prices jumped past an average of $4 a gallon for the first time since 2022 on Tuesday, as the Iran war pushes fuel prices to soar worldwide. According to motor club AAA, the national average for a gallon of regular gasoline is now $4.02 – over a dollar more expensive than before the war began.
Politics
WASHINGTON (AP) – Democrats’ hopes of reclaiming the U.S. Senate are colliding with a fight within their own party. In Maine, Senate Minority Leader Chuck Schumer has thrown his weight behind Gov. Janet Mills in a crucial race, but some of his Senate colleagues are backing insurgent candidate Graham Platner in a rebuke of his strategic vision.
WASHINGTON (AP) – President Donald Trump says the United States is winning the war with Iran even as thousands of additional American troops deploy to the Middle East. He has pilloried other countries for not helping the U.S., only to say later he does not need their assistance. He has twice delayed deadlines for Iran to reopen the Strait of Hormuz.
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