US Economy Could Be In Dire Straits As Hormuz Slams Shut

Pain at the pump is here, and it could be here to stay. Brent crude, the oil blend that sets worldwide prices, has jumped 24% to over $90 a barrel since Operation Epic Fury began. The highest Brent price of Trump’s second term is already impacting U.S. gasoline prices. Despite the U.S.-backed war risk insurance that President Donald Trump offered all maritime operators in the Strait of Hormuz, traffic remains down 90% since Iranian retaliatory strikes began. Refineries have no way to ship their oil, and some are halting extraction as storage facilities hit capacity. (RELATED: Iran Nearly Cripp

Pain at the pump is here, and it could be here to stay. Brent crude, the oil blend that sets worldwide prices, has jumped 24% to over $90 a barrel since Operation Epic Fury began. The highest Brent price of Trump’s second term is already impacting U.S. gasoline prices. Despite the U.S.-backed war risk insurance that President Donald Trump offered all maritime operators in the Strait of Hormuz, traffic remains down 90% since Iranian retaliatory strikes began. Refineries have no way to ship their oil, and some are halting extraction as storage facilities hit capacity. (RELATED: Iran Nearly Cripp