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The Oil Price Shock Is Here. Its Arrival Provides a Familiar Warning.

With gasoline and oil prices rising, U.S. consumers already are already feeling the effects of the Iran conflict and the consequences of a slow transition to cleaner alternatives.

5 Articles

US expert on oil price shock: Could be Trump's nightmare Oil prices passed $100 a barrel on Monday after shipping traffic through the Strait of Hormuz has practically stopped. At its peak, oil prices were around $120, before falling back to around $108 in the morning. When Trump later in the evening, in an interview with CBS News, stated that the war in Iran is far ahead of schedule and could soon be over, the price fell within a few minutes by…

By Rene Awambeng, Senior Executive Officer, First Invest March 9, 2026. The escalation of the conflict involving Iran has once again highlighted Africa's vulnerability to global shocks related to raw materials and logistics. The Brent's progression towards 120 dollars per barrel, the disruptions of oil traffic in the Strait of Ormuz and the explosion of war risk insurance premiums are a major external shock for the continent. Read more»

Romsdals Budstikke with the online newspaper Rbnett is located in Molde and is the local newspaper for Romsdal with the municipalities of Molde, Hustadvika, Aukra, Gjemnes, Vestnes and Rauma.

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Inside Climate News broke the news in on Monday, March 9, 2026.
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