#Oil #prices rise after #Trump threatens to block passage through #StraitOfHormuz
#BrentCrude, the international benchmark, was up 8%, at about $102. #US #crude was up 8% to $104.
Dow futures sank 1.04%, or 502 points. S&P 500 futures were down 1%, & Nasdaq futures declined 1.15%.
#idiocracy #kakistocracy #TrumpsWar #IranWar #Iran #war #RulesOfWar #law #Congress #WarPowers #NationalSecurity #inflation #economy #affordability #CostOfLiving #oil #energy #EnergyCrisis
cnn.com/2026/04/12/business/oi…
Nonilex
in reply to Nonilex • • •#Oil #prices remain lower than their recent highs reached last week before #Trump called off his threat of mass devastation in #Iran & agreed to #ceasefire discussions.
But with a failure to reach a lasting ceasefire agreement & the clock ticking down to yet another deadline, oil prices are now trading higher than where they settled on April 1. That was just before Trump’s disastrous primetime address in which he failed to detail an exit strategy for the #war.
#idiocracy #economy #EnergyCrisis