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    • Crude Oil Prices

    Trump Acknowledges High Gas Prices Amidst Iran Blockade & Midterm Election Concerns

    Trump Acknowledges High Gas Prices Amidst Iran Blockade & Midterm Election Concerns

    President Trump admits high gas prices may persist through midterms following his Iran conflict decision, worrying Republicans. An Iranian official warns a US blockade will hike gas prices. The war began Feb 28, impacting oil rates and Trump's approval.

    OPEC+ Increases Oil Quotas as Strait of Hormuz Closure Drives Prices to $120

    OPEC+ Increases Oil Quotas as Strait of Hormuz Closure Drives Prices to $120

    OPEC+ members agree to a 206,000 bpd quota increase for May. However, the Strait of Hormuz closure and infrastructure damage from regional conflict keep actual oil supply low and prices high.