Oil prices drop amid possible U.S.-Iran deal
Oil prices dropped on Monday amid updates from Vice President JD Vance on progress between the U.S. and Iran toward a deal. Jennifer Sor, a markets reporter for Business Insider, joins with more.
Oil and Gas
Americans concerned about costs of Iran war
With gas prices still higher than last year and inflation stretching household budgets thin, many Americans are facing high financial stress. A recent CBS News poll shows that most Americans think the Iran war is not worth its cost. Political strategists Harrison Fields and Jonae Wartel discuss.
Energy analysts weigh in on gas prices
On "Face the Nation with Margaret Brennan," energy analyst Kevin Book says it could take "a while" for gas prices to return to pre-Iran war levels, pointing to uncertainty and depleted oil reserves. And Biden-era adviser Amos Hochstein discusses how the U.S.-Iran deal could impact Iranian oil revenue.
How strait blockade changed energy trade
President Trump said the Strait of Hormuz will reopen within "the next day or two." Semafor climate & energy editor Tim McDonnell explains why global energy trade will never be the same, even when the strait reopens.
Despite Trump's assurances, shippers wait and see on Strait of Hormuz
President Trump says there's a "safe, secure and pristine" route through the Strait of Hormuz, but major shipping companies aren't convinced.
Oil prices sink, stocks soar after Trump announces deal with Iran
Markets rally on expectations that the agreement will ease global energy supply concerns, though analysts warn gas prices may remain elevated for some time.
How soon will gas prices to go down?
Oil prices slid and stock markets rose on Monday after President Trump's announcement that the U.S. and Iran reached a deal. CBS News contributor Javier David has more.
Trump says "settlement" reached on Iran, signing could happen this weekend
President Trump said earlier Thursday he called off new military strikes on Iran, hours after threatening to escalate the war.
Inflation topped 4% in May as CPI surged to highest level in 3 years
The Consumer Price Index rose last month at a 4.2% annual rate amid a spike in U.S. energy prices.
Trump says "I love the inflation" because U.S. is "taking out" Iranian oil
President Trump said the U.S. has taken out "millions" of barrels of Iranian oil in the dead of night, and said inflation will come down when the war ends.
Trump on CPI data: "I love the inflation"
President Trump is weighing in on the latest Consumer Price Index data, which shows inflation rose to 4.2% in May. Mr. Trump said, "I love the inflation," and said oil and gas prices will slump after the war with Iran is over.
Inflation surges to 4.2% in May CPI report
Household budgets are under increased pressure as new Consumer Price Index data shows inflation rose to 4.2%, the highest level since April 2023. The Federal Reserve will meet later in June to discuss interest rates. CBS News' Kelly O'Grady breaks it down.
Iran and Israel say attacks halted after Trump tells both to "stop 'shooting'"
Iran and Israel declare a halt to fighting as President Trump says both are seeking an "immediate ceasefire" after a major escalation in the 101-day war.
Airlines feel the burn of rising fuel costs
European Commissioner for Sustainable Transport and Tourism Apostolos Tzitzikostas joins CBS News to discuss the impacts of the Iran war as rising fuel costs force airlines to cut routes.
Iran attacks Kuwait airport as Israel, Lebanon reach tentative ceasefire
Israel and Lebanon agreed Wednesday to renew their fragile ceasefire and create a number of "pilot" security zones inside Lebanon where Hezbollah would be banned.
U.S., Iran trade attacks as Iranian officer says renewed war seems "inevitable"
Prospects for a U.S.-Iran deal appear to be dimming as the war between Israel and Hezbollah grinds on despite Trump saying they agreed to stop fighting.
Gas prices likely to remain high for months, energy experts say
"It will be a very long, multi-month to multi-year process for things to fully normalize," GasBuddy's Patrick De Haan said.
Northlake police warn of gas pump screw scam
The Northlake Police Department issued a warning about a new scam at gas stations that is low tech, but effective.
Trump says Iran talks continuing after regime threatens "other fronts" in war
The Iranians' latest move in the war came in response to what it considers U.S. and Israeli ceasefire violations.
Trump recently edited possible U.S.-Iran agreement, source says
President Trump's changes included somewhat significant changes, according to a source with knowledge of the negotiations.
Vance says "still TBD" if Trump will sign a U.S.-Iran deal
The vice president says the U.S. and Iran are "very close" to a deal, but are "not there yet." Meanwhile, the U.S. struck Iran, which retaliated against a U.S. base.
Iran says U.S. violating ceasefire as Trump seeks "good deal or no deal"
As Iran accuses the U.S. of a "grave violation" of the fragile ceasefire, Rubio says a deal is still possible despite the latest clash.
Stocks mixed as investors shrug off renewed fighting in Iran
Oil prices were also mixed after U.S. strikes on Iranian forces, underscoring the risks still hanging over markets and consumers.
BP ousts recently appointed chair over "conduct issues"
The board upheaval comes less than a year after BP appointed Albert Manifold to the role.
Iran says obstacles remain, but acknowledges deal taking shape with U.S.
As the Trump administration signals hope for a possible deal, Iran says obstacles linger and that "frequent changes" in U.S. positions aren't helping.
Exclusive
Newly obtained footage shows Iran attack on major U.S. post in Kuwait
Maduro expected to face new charges of torture of Americans in Venezuelan prisons
Christa Pike has pneumonia, unable to move arms after botched execution, lawyers say
Tropical Storm Isaias forms in Gulf, could reach U.S. as hurricane this weekend
Live
Vance appears to soften U.S. demands on Iranian nuclear enrichment
Investigation
Congress tried to stop surprise medical bills. It created another problem.
Trump pitches Trump International Golf Course for site of "presidential retreat"
FBI concerned alleged Chinese agent is serious flight risk, sources say
