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The Iran war pushed energy prices higher over the past couple of months, with elevated oil prices beginning to spill over into everyday expenses. And oil prices spiked sharply on Wednesday after US WTI crude (CL=F) jumped to $75.54 a barrel and Brent crude (BZ=F) climbed to $79.81, as President Trump declared the US-Iran deal "over."
Just last week, Brent had fallen below $71 a barrel, its lowest level since before the war began in February. Gas prices, which rose $1.16 a gallon nationally at the height of the war, had eased back to $3.79 — but could climb again if the renewed conflict disrupts supply through the Strait of Hormuz.
But fuel costs are not the only everyday household budget item to watch.
Roughly one-third of the world's fertilizer moves through the Strait of Hormuz, and the months-long closure raised concerns about supply. Farmers are warning of fertilizer shortages and price increases.
The Iran war pushed energy prices higher over the past couple of months, with elevated oil prices beginning to spill over into everyday expenses. And oil prices spiked sharply on Wednesday after US WTI crude (CL=F) jumped to $75.54 a barrel and Brent crude (BZ=F) climbed to $79.81, as President Trump declared the US-Iran deal "over."
Just last week, Brent had fallen below $71 a barrel, its lowest level since before the war began in February. Gas prices, which rose $1.16 a gallon nationally at the height of the war, had eased back to $3.79 — but could climb again if the renewed conflict disrupts supply through the Strait of Hormuz.
But fuel costs are not the only everyday household budget item to watch.
Roughly one-third of the world's fertilizer moves through the Strait of Hormuz, and the months-long closure raised concerns about supply. Farmers are warning of fertilizer shortages and price increases.
25 days ago
