246 articles — keywords: Iran
Brent crude oil closed at $109.26 a barrel on Friday, up 74 percent year-to-date, as the Iran conflict continues to choke global energy supplies.
Iran's foreign minister said his country cannot trust the U.S. at all even as BRICS nations failed for a second straight meeting to produce a joint position on the conflict.
Xi Jinping warned that Taiwan remains the most important issue in U.S.-China relations and could push ties to a "dangerous" place if mishandled.
The visit comes as the 75-day Iran war has cost U.S. taxpayers at least $29 billion and wholesale prices hit their highest point since 2022.
Energy costs drove the surge, with gasoline prices jumping 15.6% as the Iran war squeezed global oil supplies.
Energy prices drove 40 percent of the total Consumer Price Index increase in April, with gasoline up 28.4 percent from a year ago.
Kelly responded by pointing to a public Senate hearing where Hegseth himself said it would take years to replenish munitions depleted by the Iran war.
The president described Iran's counterproposal as "garbage" and said its failure to address nuclear weapons was unacceptable.
The United Nations Development Program estimates the conflict may cause $299 billion in economic losses to the Asia-Pacific region.
WTI crude crossed $100 per barrel Monday after Netanyahu said the conflict with Iran was "not over" and Trump called Iran's counteroffer "totally unacceptable.
Qatar also sent its first LNG shipment through the Strait of Hormuz since the war began, according to ship-tracking data.
American forces disabled the vessels with precision munitions aimed at their smokestacks as they attempted to dock at an Iranian port in violation of the U.S. naval blockade.
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