170 articles — keywords: Iran
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.
American forces targeted two Iranian ports, Bandar Abbas and Qeshm, after three Navy destroyers were attacked by missiles and drones but not hit.
Iran was expected to respond Thursday to a U.S. one-page framework for ending the war, according to a source cited by CNN.
The British energy giant beat analyst forecasts by more than $800 million but cut its quarterly share buyback from $3.5 billion to $3 billion.
The British retailer lifted its full-year guidance after strong sales growth outpaced rising supply chain expenses linked to the Strait of Hormuz disruption.
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