U.S. strikes key Iranian oil hub
President Trump said Friday night on social media that the U.S. struck a key Iranian oil hub on Kharg Island as tensions over the global oil supply ramp up amid Iran's closure of the Strait of Hormuz.
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President Trump said Friday night on social media that the U.S. struck a key Iranian oil hub on Kharg Island as tensions over the global oil supply ramp up amid Iran's closure of the Strait of Hormuz.
Then-President Richard Nixon addressed the nation from the Oval Office during the 1973 energy crisis. Fueled by the Yom Kippur War, members of the Organization of the Petroleum Exporting Countries in the Middle East banned the sale of oil to the U.S. and other countries, sharply raising gas prices for Americans as they faced their first fuel shortage since WWII.
On Nov. 29, 1973, CBS News aired a special report titled "Making It Through This Winter," spotlighting the ways Americans were making do amid the oil crisis. Watch the program in full.
In 1971, Mike Wallace reported on the Middle East oil tanker business, noting that "the oil tanker may just be the single most remarkable money-making instrument in the world today."
The U.S.-Israeli war with Iran is quickly approaching the two-week mark. Defense Secretary Pete Hegseth said Iran's missile and drone capabilities have been severely diminished. He also said the new Supreme Leader is wounded and likely disfigured. CBS News' Eleanor Watson and Nancy Cordes report.
Iran continues to harass vessels in the Strait of Hormuz, and the prospect of U.S. naval escorts appears more likely. But when that would occur remains a mystery. CBS News' Matt Gutman and Aaron MacLean have the latest.
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Secretary of Defense Pete Hegseth bashed the press during a Pentagon briefing on Friday, claiming news headlines are misguiding the public about U.S. operations against Iran. This comes as the deaths of four more service members in the Middle East were announced and as the Pentagon warns of strikes against Tehran escalating.
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Secretary of Defense Pete Hegseth and U.S. Joint Chiefs of Staff Gen. Dan Caine said during a Pentagon briefing that on Friday the volume of strikes against Iran would be ramping up. This comes as the military confirms the deaths of four more service members in the Middle East.
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Iran's relentless attacks on Gulf states and infrastructure appear to be overshadowing interventions by the U.S. and its allies aimed at easing energy prices.
Ship traffic in the Strait of Hormuz was mostly stopped amid the war in Iran on Thursday, which contributed to rising oil prices. The waterway typically carries around 20% of the world's supply of oil. On Wednesday, President Trump ordered the release of 172 million barrels of oil from emergency reserves. In a statement attributed to Iran's new Supreme Leader, Ayatollah Mojtaba Khamenei, he said Iran should keep putting pressure on the critical chokepoint.
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The Pentagon has confirmed that a U.S. plane has crashed in western Iraq. U.S. Central Command said a military refueling plane went down in "friendly airspace" during the operation against Iran. CBS News' Charlie D'Agata and Aaron MacLean have more.
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Iran's new Supreme Leader, Ayatollah Mojtaba Khamenei, issued his first public statement Thursday since taking his new position. A broadcaster read the statement on Iranian state media. CBS News' Eleanor Watson and Willie James Inman have more.
Treasury Secretary Scott Bessent said Thursday that the U.S. will escort ships through the Strait of Hormuz as Iran ramps up attacks on the crucial shipping channel. Republican Rep. Rick Crawford of Arkansas, chair of the House Intelligence Committee, joins "The Takeout" to discuss the state of the war.
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