News Review: Global economic impacts of US war on Iran
Additional costs stem from higher gasoline and diesel prices, with the average US household paying more than 760 dollars so far.
Oil prices have surged amid fears of prolonged disruptions to global supplies, while record diesel prices are adding pressure on freight, travel and inflation.
Brent crude climbed above 97 dollars per barrel, and West Texas Intermediate topped 92 dollars.
Uncertainty over oil flows through the Strait of Hormuz could keep fuel prices elevated in the coming months.
Refineries are struggling to maintain supplies and global inventories are coming under pressure.
Asian economies are especially exposed because of their dependence on energy imports.
Higher fuel and transportation costs are feeding inflation and raising concerns about shortages of essential goods.
News Review: Israeli aggression on Lebanon
News Review: Iran’s top security official says Hormuz Strait totally closed
US has become too unpredictable to be taken seriously: Analyst
Iran: Calls for unconditional IAEA Safeguards compliance ‘meaningless’
Hind Rajab files criminal complaint against Israel FM in Slovenia
VIDEO | Press TV's news headlines
VIDEO | News Review: Global economic impacts of US war on Iran
VIDEO | Madrid demonstrates to free Gaza donor Fergie Chambers from Spanish jail
Saudi aggression will not go unanswered, Yemen warns after Jawf massacre
VIDEO | News Review: Israeli aggression on Lebanon
Iran mass-producing home-grown weaponry: Air defense chief
PressTV NEWSLETTER
now
This makes it easy to access the Press TV website
