Oil hits $126 as Iran blockade sends gas to $4.30
Why this story
Direct economic impact hitting American wallets - 30-cent weekly jump creates political crisis for Trump administration.
BULL CASE
White House says Iran ceasefire talks halt 60-day war deadline per 1973 War Powers Resolution — diplomatic exit ramp emerging.
BEAR CASE
Trump says Iran blockade could last 'months' while US Central Command preps strike options per Axios — escalation path locked in.
GLOBAL MARKETS
Brent crude hit $126 — highest since 2022 — as Iran mines and drones halt Strait of Hormuz shipping per Al Jazeera reports.
Hidden Truth
Hidden truth: SPR holds 350M barrels, Saudi has 2M bpd spare capacity untapped — current $126 price reflects fear premium over actual shortage.Read the full breakdown →
Should the US tap the Strategic Petroleum Reserve to bring down gas prices?
