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Synopsis The Trump administration underestimated Iran’s reaction to military strikes. This led to Iran threatening to close the Strait of Hormuz, a vital oil shipping route. Commercial shipping halted, oil prices surged, and Americans faced higher gasoline costs. The US government is now scrambling to manage the economic fallout and reopen the crucial waterway. On Feb. 18, as President Donald Trump weighed whether to launch military attacks on Iran, Chris Wright, the energy secretary, told an interviewer he was not concerned that the looming war might disrupt oil supplies in the Middle East and wreak havoc in energy markets. Even…
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March 10, 2026
22:51
Source: firstpost.com
March 7, 2026
21:45
Source: economictimes.indiatimes.com
March 3, 2026
07:36
Source: newyorker.com
December 6, 2025
18:18
Source: en.protothema.gr
June 17, 2025
12:53
Source: theguardian.com
June 1, 2025
12:00
Source: theguardian.com
April 7, 2025
01:33
Source: ca.finance.yahoo.com