USPS to add temporary fuel surcharge for some postage prices
The U.S. Postal Service is raising some postage prices to help offset the federal agency's rising transportation costs as fuel prices surge.
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The U.S. Postal Service is raising some postage prices to help offset the federal agency's rising transportation costs as fuel prices surge.
Trading in crude oil futures spiked only minutes before President Trump postponed an ultimatum on Iran, causing oil prices to drop and stocks to surge.
President Trump said several members of his administration were involved in talks with Iran about the ongoing war.
As Iran threatens to mine the entire Persian Gulf, President Trump said his deadline for the Strait of Hormuz to reopen is postponed amid negotiations with Tehran.
Crude oil prices also dropped after President Trump said the administration had held "good and productive" peace talks with Iran.
The president threatened to "obliterate" Iranian power plants if Iran didn't reopen the Strait of Hormuz by late Monday night Eastern Daylight Time.
With gas closing in on $4 a gallon, the Trump administration is pulling multiple levers to tame energy prices. The results have been mixed.
Plunging oil shipments transiting the Strait of Hormuz have sent global energy prices soaring to their highest level in years.
Experts warn that surging energy costs are likely to ripple through U.S. supply chains, resulting in higher prices online and in stores.
"If the price of oil goes up, the price of everything goes up," said former U.S. Energy Secretary Ernest Moniz.
Israel says it killed Iran's top security official Ali Larijani, as America's European allies reject President Trump's demands for help in the Strait of Hormuz.
The Iran war could escalate further as President Trump threatens to hit key oil infrastructure if Tehran doesn't drop its chokehold on the Strait of Hormuz.
As the war against Iran has entered its third week, President Trump said Monday the U.S. has "literally obliterated" its regime.
Even if oil prices ease, they won't return to the levels they were at before the war started, according to Patrick De Haan of GasBuddy.
U.S. Energy Secretary Chris Wright invoked the Defense Production Act to restore the Sable Offshore Corp.'s Santa Ynez unit and pipeline off Santa Barbara's coastline.
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.
President Trump ordered the release of 172 million barrels of oil from the U.S.'s Strategic Petroleum Reserve on Wednesday, after oil prices rocketed to their highest levels in years amid the U.S.'s war with Iran.
President Trump says the Iran war will end "very soon," but Tehran says it's "prepared to continue attacking" indefinitely, and it won't let oil leave the Gulf.
President Trump's assurances that a rising U.S. death toll and soaring energy prices will be temporary and worth the pain are failing to assuage jittery investors.
Surging global oil prices due to the Iran war are leading to a spike in gasoline costs for U.S. motorists.
Relations between the two countries were cut off in 2019, during the first Trump administration.
Americans are now paying an average of $3.246 per gallon, up 26 cents since last week and the highest level since April 2025.
U.S. motorists could soon see higher prices at the pump as oil prices surge following the attacks in Iran.
Stocks recovered on Monday after tumbling earlier in the day over concerns that the U.S.-Israel attacks on Iran could drive up energy costs.
President Trump on Thursday signed an executive order that would impose a tariff on any goods from countries that sell or provide oil to Cuba.
