Trump says Iran "ready to fold up"
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.
Watch CBS News
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.
The Iran war and Russia-Ukraine conflict are knocking out global refining capacity, pushing fuel prices higher, analysts said.
The Iran war has cost the U.S. military at least $33.4 billion — most of it on munitions — and not including hundreds of millions more spent by other agencies, the Pentagon says.
The Iran-backed Houthis expanded their control over the strategy Bab-el-Mandeb strait, as strikes continued in the Strait of Hormuz.
Higher gas and diesel prices have cost Americans an additional $100 billion since the Iran war began, according to a Brown University tracker.
Diesel hit a record of $5.85 a gallon Friday, eclipsing its prior mark of $5.81, set in June 2022.
Iran responded to a warning from President Trump with claims of new strikes against U.S. forces in Kuwait and the United Arab Emirates.
U.S. forces announced new strikes against targets linked to Iran's Revolutionary Guard, marking another round of attacks as the U.S. and Iran return to hostilities.
Iran's economy minister said the country has been preparing for a long time for the sanctions U.S. Treasury Secretary Scott Bessent described as the "greatest financial offensive" ever.
President Trump said Wednesday the U.S. might return to negotiations with Iran eventually, but he said currently "the situation is so good."
The 60-day deadline for the U.S. and Iran to negotiate a peace deal and reopen the Strait of Hormuz expired, with no agreement in sight.
A vote in the Senate to limit President Trump's war powers has narrowly failed again. Three Republicans voted in favor of it.
U.S. households will spend roughly $4,000 per student on school supplies and lunches this year, a new analysis found.
Talks between Oman and Iran on reopening the Strait of Hormuz and their respective territorial waterways have made progress, two sources told CBS News.
The U.S. moves more refueling planes to the Mideast and adds medics at a major military hospital as the war with Iran spreads to another key waterway.
The last time global oil prices settled above $100 was on May 22, data from FactSet shows.
The national average for a gallon of gas reached $4.003 on Monday, the first time in over a month it has crossed that threshold, AAA data shows.
Two U.S. service members were killed earlier in Jordan and a third was missing in action, the U.S. Central Command said.
As the U.S. restarts its Iran blockade and carries out more strikes, President Trump has called off a planned 20% fee on shipping through the Strait of Hormuz.
Prices at the pump sank following a June ceasefire. But renewed conflict in the Middle East and other factors are driving fuel costs back up.
Lower jet fuel costs spell relief for airlines. But that doesn't mean they'll pass savings onto customers by lowering airfares, experts said.
Oil prices jumped 6% while U.S. stocks fell as renewed Middle East conflict threatens crude shipments through the Strait of Hormuz.
The U.S. is "going to win one way or the other," President Trump said Monday, as Iran held a colossal public funeral for its slain supreme leader.
The Islamic Revolutionary Guard Corps struck a cargo ship near Oman on Thursday, further complicating the Iran-U.S. negotiations.
President Trump said earlier Thursday he called off new military strikes on Iran, hours after threatening to escalate the war.
