Oil Prices Surge on War Tensions

The energy crisis has intensified as shipping traffic through the vital Persian Gulf corridor remains at a virtual standstill.

Energy Secretary Chris Wright warned that domestic gas prices are unlikely to fall below $3 per gallon until 2027, a projection that President Trump has publicly disputed.

European refiners are seeing record gains in gasoline margins, while Asian airlines are reporting a surge in demand as travelers avoid Middle Eastern hubs.

The ongoing blockade is expected to drive inflation higher across major economies in the coming months.