U.S. gas prices on track to fall below $4 a gallon, experts say
Fuel prices have dropped in recent weeks amid hopes that the midterm elections would increase pressure on the U.S. and Iran to reach a peace deal.
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Fuel prices have dropped in recent weeks amid hopes that the midterm elections would increase pressure on the U.S. and Iran to reach a peace deal.
The U.S. launched limited strikes on Iran's Qeshm Island in the Strait of Hormuz after Iran fired at a U.S. aircraft, a senior U.S. official told CBS News.
Airlines have raised baggage fees and ticket prices to help offset the surging cost of jet fuel this year.
Earlier, President Trump predicted the war with Iran is "going to end soon," without offering any details, as Qatari mediators return to Tehran to push for a deal.
A tanker was also struck by a projectile in the strait on Thursday night.
Israelis voted in a national election set to shape the country's next government, with the Iran war looming large over their decisions.
A report from congressional Democrats found the president purchased millions in oil and gas stocks during the war.
President Trump said he's deciding between reaching an agreement with Tehran and taking action to "finish them off."
Gasoline prices in Michigan jumped an average of 22 cents a gallon in a week, based on reports from AAA.
President Trump said Iran was trying to drive up oil prices before the midterms by lying about ships hitting mines or being struck by projectiles in the Strait of Hormuz.
Iran says its ties with Russia are stronger than ever after a visit by Putin's top envoy, challenging Trump's assertion that Moscow isn't helping Iran in the war.
Iran's foreign minister said the U.S. could see the strategic waterway open within days if it abided by the conditions presented in the seven-day ceasefire plan.
Vessels in the Strait of Hormuz still face "indiscriminate attacks" even if they switch off tracking systems, a maritime risk firm warns.
Gas prices, which jumped 9.1% in September from August, accounted for more than half the monthly rise in inflation.
As President Trump mulls joining Saudi Arabia in attacking the Houthis, the Iran-backed group threatened a "painful" response.
After Saudi Arabia said Iran's Houthi allies carried out another strike at Riyadh's airport, Iran called the U.S. effort to negotiate toward ending the war "insufficient."
Crude oil prices had shot up on Thursday after reports President Trump was considering more strikes. They immediately dropped again after his new announcement.
Iran's Houthi allies deny that they've lost ground to Yemen's Saudi-backed military, as oil prices ease despite the Middle East crisis erupting in a battle over control of another key waterway.
Vice President JD Vance, Secretary of State Marco Rubio and Defense Secretary Pete Hegseth were among the officials who met on Friday to discuss a path forward.
Trump said he doesn't believe "you could ever have peace" with Iran, and renewed his threat to resume U.S. attacks after the midterms.
President Trump says U.S. and Iranian negotiators are talking via mediators, but insists he has "offered them NOTHING" to get a peace deal done.
Iran had presented a seven-day plan to reopen the Strait of Hormuz and return to negotiations for a lasting end to the war.
As Iran responds to Trump's threat of annihilation with its own warning of a possible "new front" in the war, global oil prices are rising again.
President Trump told the U.N. he's deciding whether to make a deal or drive Iran "into hell." Iran's president is slated to address the world body today, Iranian state media say.
U.N.-commissioned rights experts say there are "reasonable grounds" to believe the U.S. committed war crimes with strikes that killed scores of Iranian civilians.
