In early 2025, oil prices crashed to nearly $60 a barrel but rebounded to $75 due to the recent conflict.

Although the U.S. is a net oil exporter, higher oil prices could increase inflation and lower economic growth.

Almost a third of the global seaborne oil trade moves through the Strait of Hormuz. Any interruption could send crude prices soaring. Plus, investment newsletter commentary on the job market, small-caps,

A fire has broken out at a Marathon Oil refinery in Texas City, emergency officials say. The Texas City Office of Emergency Management (OEM) first posted about the fire at 12:25 p.m. The refinery is located on 5th Avenue South east of 25th Street South.

Rather, it is geopolitical factors—specifically, escalating tensions in the Middle East—that are unsettling markets and pushing prices higher.

Larry He, who served as Mr. Cuomo’s Asian outreach director, held senior posts at a multibillion-dollar firm owned by China but omitted the experience from his résumé.

The past two years of escalating tensions in the Middle East have taught oil traders to be sanguine about the risk of disruption to oil supplies.