Economy

Three more ships struck in the Persian Gulf as Iran warns of oil prices hitting $200

The latest incidents in or near the Strait of Hormuz come shortly after Iran warned the world to prepare for $200 oil prices.

European stocks finish lower as oil prices jump despite reserve release

European stocks ended Thursday's session lower as investors monitor the Iran war and global oil prices.

A global food price shock looms as Middle East war rages on. Here's who will be hit hardest

A widening Middle East conflict that disrupts trade through the Strait of Hormuz could ripple far beyond the energy markets, risking a spike in global food prices.

Plans for record emergency oil release signal Middle East war could drag on for months

The degree to which the IEA acted is being interpreted that the conflict could continue for many weeks, said analysts.

Trump administration releasing 172 million barrels of oil from strategic reserve as Iran war causes soaring prices

Updated on: March 11, 2026 / 9:00 PM EDT / CBS News

Trump orders release of 172M barrels of oil from strategic reserve

The United States will release 172 million barrels of oil from the Strategic Petroleum Reserve at the request of President Donald Trump as part of a coordinated international effort aimed at stabilizing energy markets amid the war in Iran.

Asia-Pacific markets fall as Iran war continues to fuel oil volatility

Asia-Pacific markets fell Thursday as investors grappled with volatile oil prices and escalating tensions in the Middle East.

Trump administration takes steps to impose new tariffs, announcing investigations into key trading partners

March 11, 2026 / 7:31 PM EDT / CBS News

Shipping disruptions spread beyond oil: Helium, sulfur, and semiconductors

The pause in shipping through the Strait of Hormuz is creating economic disruptions beyond the oil and natural gas markets, affecting the shipment of goods and commodities needed for semiconductors, fertilizer, and more.

Iran war: Trump says he'll tap Strategic Petroleum Reserve to cut energy costs

The U.S. currently has 415 million barrels of oil in its strategic reserve, about 58% of the authorized capacity of 714 million barrels.

Nike lands an 'unconventional upgrade' from Wall Street. Why we're still believers too

Jim Cramer says Nike is still worth owning because CEO Elliott Hill's turnaround efforts have shown signs of progress.

Social Security 2027 cost-of-living adjustment forecast may rise with high oil prices

The Social Security cost-of-living adjustment for 2027 may be 1.7% to 2.8%, according to new estimates. But that could increase if inflation climbs higher.