Iran War Live Updates: As Oil and Gas Prices Soar, Bessent Says U.S. May Release More Reserves - The New York Times
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The Bottom Line
Iran attacked Gulf energy infrastructure, triggering immediate spikes in global oil and gas prices due to supply disruption concerns.
How This Affects You
Gas and heating fuel prices at the pump and in your home may increase due to oil market reactions to Iranian attacks on Gulf energy facilities.
AI Summary
Iran has attacked Gulf energy infrastructure, triggering immediate spikes in oil and gas prices across global markets. The strikes targeted facilities critical to regional energy production and export capacity, underscoring the direct economic link between Middle East geopolitical conflict and consumer energy costs. The price increases reflect investor concerns about potential supply disruptions and escalation in the already volatile Persian Gulf. Energy markets remain sensitive to any threat to the chokepoints through which much of the world's oil transits, making attacks on Gulf facilities a top-tier economic risk factor. The incident marks an intensification of Iran-related tensions affecting the global economy.
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European Gas Jumps 35% After World’s Top LNG Plant Hit by Iran - Bloomberg.com
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FinanceCracks emerged in a resilient US economy before war in Iran sent oil prices rocketing - AP News
<a href="https://news.google.com/rss/articles/CBMitgFBVV95cUxNVGZxOGhaUlRKVUVIWkd3QUVubEZPTHFvc3hZeFBBZG1nVXlId1N1d2FlTmNLeVY5bHp0bW1SZ18zZndOa0ExSGZqT3hEQ1NqS0Y1RkgyTWV3ZUpNX2NxeEJmQUxBSDM0YWxTMll6WW1aVm91bGd1SENxa0Z6eWZtTDZyNk1qZjRFS0tJYmRLbVU5UE1KU0UwVzFvSTdYdjlzY3d2c01VNkdYSzlfYl9zMDVsOEtpUQ?oc=5" target="_blank">Cracks emerged in a resilient US economy before war in Iran sent oil prices rocketing</a> <font color="#6f6f6f">AP News</font>
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Middle East war escalates after attack on key Iranian gas field
#Israel hit Iranian's pat of the South Pars #gas field, the world's largest offshore reservoir #Tehran shares with #Doha. In retaliation for the strikes, #Iran ramped up its attacks on Gulf countries' energy infrastructures, sending #oil prices soaring.
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GlobalKey details on Iran war as Israel strikes South Pars natural gas field
The Iran war has expanded into oil fields in the Middle East. CBS News' Ramy Inocencio and Willie James Inman report.
First Thing: Trump says US does not need Nato after strait of Hormuz rebuf | Clea Skopeliti
<p>Snub comes as Iran vows revenge for killing of Ali Larijani. Plus, judge orders reinstatement of Voice of America staff</p><p>Good morning.</p><p>Donald Trump has said the US does not need Nato after a number of the organization’s members <a href="https://www.theguardian.com/world/2026/mar/17/trump-us-president-nato-strait-of-hormuz-iran-middle-east">rejected his call to send their warships</a> to reopen the strait of Hormuz.</p><p><strong>How many people have been displaced in Iran?</strong> Up to 3.2 million people, according to the UN’s refugee agency. Here, Tehran residents <a href="https://www.theguardian.com/world/2026/mar/18/iranians-daily-life-under-air-attack">speak about their daily life</a> under bombardment.</p><p><strong>For the latest updates,</strong> <a href="https://www.theguardian.com/world/live/2026/mar/18/iran-war-live-updates-oil-prices-hormuz-trump-larijani-key-leader-killed-israel-strikes">follow our liveblog.</a></p> <a href="https://www.theguardian.com/us...
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