Commodities
US-Iran Tensions Send Gas Prices Soaring
The US and Iran have engaged in retaliatory attacks over the weekend, escalating tensions in the Strait of Hormuz.
A US vessel was targeted by Iran on Sunday, but the incident has not been confirmed. This followed a US military operation on Saturday that targeted three Iranian oil tankers in response to a missile attack on US Navy ships.
The ongoing conflict is driving up fuel prices in the United States, with the average price for a gallon of regular gas reaching $4.15, a 39% increase compared to late February.