Iran, Israel and Oil
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Global production is well placed to cope with Iranian disruption.
15hOpinion
The New Republic on MSNTrump Is Freeing Up Public Lands for Big Oil. It Doesn’t Want Them.The president is seeking to open up national monuments for drilling. But more land isn’t what oil companies need right now.
Calm returned to Wall Street, and U.S. stocks rallied, while oil prices gave back some of their initial spurts following Israel's attack on Iranian nuclear and military targets at the end of last week.
A sustained rise in the price of crude oil, which jumped sharply after Israel attacked Iran, could hurt consumers and President Trump’s efforts to bring down energy costs.
A sustained surge in oil prices is likely to complicate the U.S. fight against inflation. A $10-a-barrel increase would boost year-over-year growth in the Consumer Price Index by 0.5 percentage points,