Houthi forces have reportedly seized the entirety of Yemen’s Red Sea coastline, further solidifying the group’s control over its key waterway and sending oil prices soaring to even further heights since the start of the U.S.-Israeli war on Iran. The Houthis, also known as Ansar Allah, seized control of the key port town of Mocha this week, reports say. They have since rapidly advanced to…
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A new report from the International Monetary Fund (IMF) warns that the U.S.-Israeli joint war on Iran has stalled economic momentum for this year, and, if the war lasts for several months, has the potential to cause a global recession. The report, published on Tuesday, blamed disrupted supply chains, primarily for oil, for its changes in projections compared to a previous report issued in…
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In a Fox News interview earlier this week, President Donald Trump appeared to acknowledge that the war on Iran he started in late February would have economic consequences, including higher gas and oil prices for the foreseeable future. While higher prices are detrimentally affecting millions of Americans at gas pumps across the country, Trump — who campaigned on lowering costs to below $2…
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Several allies to the U.S. have rebuffed President Donald Trump’s demands and threats this weekend for countries to aid in opening transit through the Strait of Hormuz, as oil prices spike in the third week of the U.S. and Israel’s war on Iran. As of Monday morning in the U.S., no countries had committed to aiding in Trump’s plan to form a naval coalition for access to the strait as Iranian…
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President Donald Trump is downplaying Americans’ concerns about rising oil and gas prices as a result of the U.S.-Israel war on Iran, claiming in a recent social media post that the price increases would somehow benefit the U.S. “The United States is the largest Oil Producer in the World, by far, so when oil prices go up, we make a lot of money,” Trump claimed in a Truth Social post on…
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