"…Oil prices are set on a global market, but in Trump’s mind, the consequences of committing an act of war against a global oil-baron can be staved off with a stern Truth Social post."

"…Faced with higher inflation, the Federal Reserve would likely scrap plans for cutting interest rates."

"…Trump's decision to carry out strikes has radically limited both his options and the chances of de-escalation."

"…Trump urged stepped-up production as the White House sharpened its warnings to Iran against closing the Strait of Hormuz, a vital oil and gas shipping lane, in retaliation for the U.S. strikes on Iran’s nuclear program."

"…European diplomatic efforts were complicated by a lack of foreknowledge of the Trump administration’s moves."

"…The decision to attack was a risky one for Trump, who won the White House partly on the promise of keeping America out of costly foreign conflicts."

"…The modest moves indicate markets are taking the latest development in stride."

"…A decision to retaliate against the U.S. and its regional allies would give Iran a far larger target bank and one that is much closer than Israel, allowing it to potentially use its missiles and drones to greater effect."

"…Oil prices dropped sharply after Iran’s retaliatory missile strike on a US airbase reduced concern that the country was poised to strain energy markets by closing off a vital trade route."

"…Any action to blockade their straits of Hormuz would be a monumental act of self-harm, making a diplomatic solution even harder."

"…Goldman’s baseline assumption is that that physical disruptions to Iran supply and regional oil and gas production and shipping are avoided; in that scenario, Brent crude falls to $60/barrel by the end of the year."

"…US strikes on Iran could damage global economic growth, the head of the International Monetary Fund has warned."

"…The economy is already pretty sluggish, and having to fork out an extra $15 a week, or $780 a year, would start to be quite a drag on consumer spending."

"…The world is now bracing for Iran’s response."

"…A prolonged closure could have huge knock-on effects for the global economy."

"…The Atomic Energy Organization of Iran insists the US attacks won’t affect its work – and that the nuclear material had already been removed."

"…Tehran has vowed to respond, prompting fears of escalation."

"…The region and the wider world watched warily as events unfolded overnight into Tuesday, but with a degree of hope as daylight broke in the region that what US President Donald Trump called the “12 Day War” may be over."

"…In the meantime, Wall Street is acting like it went to bed Friday, slept straight through the weekend and woke up Monday morning as if nothing happened."

"…A functioning Strait of Hormuz is “absolutely essential” to the health of the global economy."

"…American consumers may soon feel a price shock at the pump."

"…The blow would be particularly severe for Asia, for whom the crude oil and gas that pass through the strait represents up to 75% of its consumption."

"…The current oil price is still the highest since late January — but is only slightly below the overall average seen since 2023."

"…The weekend strike, dubbed Operation Midnight Hammer, targeted Iranian nuclear facilities: Fordo, Natanz and Isfahan."

"…The decision to close the waterway now rests with the country’s national security council, and its possibility has raised the specter of higher energy prices and aggravated geopolitical tensions, with Washington calling upon Beijing to prevent the strait’s closure."

"…Concerns centered on whether Iran would begin limiting or shutting down access to the strait."

"…The few days are of particular concern, according to two defense officials and a senior White House official."

"…The decision to attack was a risky one for Trump, who won the White House partly on the promise of keeping America out of costly foreign conflicts."

"…The world has held a close eye on the Strait of Hormuz lately with Israeli and U.S. strikes on Iran."

"…Oil prices will be in the spotlight in coming days and weeks as the world awaits Iran’s response to surprise U.S. attacks over the weekend."

"…Overall, there was no sign of panic."

"…U.S. stock futures are slightly higher as the world waits to see if Iran retaliates after a surprise U.S. strike on Iran over the weekend."

"…Oil prices surged to their highest levels since January following joint U.S.-Israeli attacks on Iran's nuclear facilities."

"…Any shock to financial markets and disruption of American consumers’ expectations for the summer months comes as the overall economy is weakening quickly."

"…If the Strait of Hormuz were closed, the impact would be felt across the globe, especially at the gas station."

"…The price of oil jumped 4% shortly after trading began on Sunday night, but it quickly pared back as the focus shifted from what the U.S. military did to how Iran would react."

"…Closing the strait would cut off Iran's own oil exports."

"…US stocks open with small losses and the price of oil is up slightly as markets watch for Iran's response to US strike."

"…The situation remains highly fluid, and much hinges on whether Tehran opts for a restrained reaction or a more aggressive course of action."

"…Several close U.S. allies urged a return to the negotiating table following American strikes on Iran that fueled fears of a wider conflict, while noting the threat posed by Tehran’s nuclear program."

"…Although energy experts believe a closure of the Strait is unlikely, noting the adverse economic and geopolitical impact on Iran, they underline that a disruption to the flow of oil through the passage would send energy prices soaring."

"…Iran vowed retaliation against the United States for the Trump administration's surprising bombings of the Islamic republic's top three nuclear sites over the weekend."

"…The strikes have ignited concerns about possible Iranian retaliation and what form such responses could take."

"…Many analysts see an Iranian closure of the strait as unlikely since doing so would devastate its own economy in the process and trigger a potentially catastrophic response from the U.S."

"…The direct involvement in offensive operations—which included massive “bunker busters” dropped from stealth bombers—in what had been a conflict primarily between Israel and Iran still marked a major escalation."

"…The shipping industry was placed on high alert on Sunday with warnings that Tehran could retaliate against commercial vessels following US airstrikes against Iran’s nuclear facilities."

"…Still, investors took heart after Trump said Israel and Iran had agreed to a “complete and total ceasefire” soon after Iran launched limited missile attacks Monday on a U.S. military base in Qatar, retaliating for the American bombing of its nuclear sites over the weekend."

"…The price of West Texas Intermediate, the U.S. benchmark, fell 7.2% to $68.51 per barrel on Monday after Iran announced a missile attack on Al Udeid Air Base in Qatar, which the U.S. military uses."

"…European nations worked to keep diplomatic efforts to curb the Israel-Iran war alive as the two countries traded strikes following the United States’ weekend attack on Iran’s nuclear program."

"…Closing the strait would cut off Iran’s own oil exports."

"…The push by Trump comes at an uncertain moment as U.S. embassies and military installations in the Middle East are on high alert for potential retaliation."

"…Oil prices tumbled by nearly 5% on Tuesday after Israel agreed to a ceasefire with Iran after nearly two weeks of conflict."

"…Any attempt to disrupt operations in the Strait could send global oil prices skyrocketing."

"…The US's military strikes on Tehran's nuclear sites have provoked alarm in capitals around the world, marking a significant escalation in tensions between the two nations."

"…Amid the potential threats to energy supplies in the Strait of Hormuz, domestic energy production in the U.S. has helped reduce the reliance of the American economy on energy sourced from the Middle East, insulating it from prospective price shocks and potential worst-case scenarios in which surging oil prices could stifle the economy."

"…Continued incorrect/false rumors talk about an incoming massive spike to [gas prices], this is erroneous. Incorrect on the highest order."

"…Iran has warned that it may attempt to close the Strait of Hormuz as retaliation for the U.S. joining Israel's strikes on Iranian nuclear facilities."

"…Motorists will likely continue seeing a slow but steady increase in gas prices for now."

"…In the event of some sort of unforeseen event or effects from these strikes, we will see a little bit of buffer and protection here in the United States."

"…A growing number of cargo ships are said to be steering clear of the Strait of Hormuz, the vital artery for global oil and gas shipments, as tensions spike in the Middle East following US airstrikes on Iranian nuclear sites."

"…The broader market is likely to view the Iran threat as receding after the strike."

"…The calming in the oil market came as several analysts said Iran would likely not close the waterway."

"…Crude oil prices in the United States dropped significantly on Monday — even after Iran retaliated against America’s attack on its nuclear facilities by launching missiles toward American military bases in Qatar and Iraq."

"…Mr. Trump played it right."

"…America’s entry into the Iran-Israel conflict early Sunday morning appears, on the surface, to be a triumph for the hawkish wing of the GOP."

"…The parliamentary vote follows a surprise American attack on Iran’s three main nuclear facilities — Natanz, Isfahan, and Fordow — early Sunday morning."

"…Yet those who hate the regime (and there are plenty) wouldn’t be seen dead protesting as the bombs are landing, for fear that their protests become confused with treachery, crossing a massive red line marked 'Iranian nationalism,' which is stronger than we all imagine."

"…Instead of plunging America into another endless conflict, Trump may have done the opposite: broken the cycle."

"…The markets likely saw the limited attack as a de-escalation of tensions, as Iran signaled that it needed to save face but did not want to antagonize the U.S. any further."

"…The ongoing Iran conflict is causing a heightened threat environment in the United States."

"…Despite the geopolitical shock, the modest scale of the rally suggested traders were not yet pricing in a prolonged disruption to global supply—or doubted that Iran would escalate in a way that threatens oil flows."

"…A closure could disrupt roughly $1 billion in oil shipments daily."

"…Crude oil prices plummeted by more than 7 percent on June 23 as investors were optimistic that Iran’s limited retaliation could lead to a de-escalation in the Middle East."

"…Closure could disrupt supply and drive up prices."