President Trump has issued another warning to Iran about disrupting shipping in the Strait of Hormuz. "If Iran does anything that stops the flow of Oil within the Strait of Hormuz, they will be hit by the United States of America TWENTY TIMES HARDER than they have been hit thus far," Trump says in an online statement.

President Donald Trump said the U.S. is waiving oil-related sanctions on certain countries in an effort to ease crude prices, as he estimated the war with Iran would end “very soon.”

Oil prices fell sharply and stocks soared after initial plunges, as fears of a protracted US-Iran war eased.

Gulf Arab oil producers are cutting production as they run out of storage space because they can't export through the Strait of Hormuz

While officials look for ways to ease oil shocks, experts say higher prices will likely persist until traffic through the Strait of Hormuz returns.

Stocks were able to wipe out earlier losses as investors were optimistic about the Middle East conflict ending soon and oil prices coming down

Global oil prices have now soared to their highest level since 2022 following the launch of Operation Epic Fury.

The U.S. average gas price has jumped 48 cents since last week, with experts predicting that higher fuel costs could persist for months.

Energy analysts warned that oil prices could continue to rise in response to the war in the Middle East.