The live-fire naval drills are a signal from Iran of the potential fallout to the world economy if the US goes through with threats to attack it, as tensions mount between the two countries.

DUBAI, United Arab Emirates — The widening war in Iran has ground tanker traffic through the Strait of Hormuz to a halt and oil prices have soared, highlighting the important role the narrow passageway plays in global energy supply. The Strait of Hormuz ...

Eight countries that are part of the OPEC+ oil cartel announced Sunday they will boost production of crude as U.S. and Israeli forces launched a major attack on Iran and the country responded with

The average price for a gallon of gasoline jumped 11 cents overnight to about $3.11 in the U.S., according to motor club AAA. Gas prices were already rising before the U.S. launched strikes on Iran as refiners switch over to summer blends of fuel,

Amid the war in the Middle East, Iran has been targeting key energy infrastructure across the region. Tehran is also threatening energy exporters, warning that tankers entering the Strait of Hormuz — a narrow,

Oil prices jumped Monday as the widening war in Iran disrupted tanker traffic through the Strait of Hormuz, highlighting how important the passageway is to the world's oil supply.

Ship traffic in the Strait of Hormuz is facing disruption and confusion after a major US and Israeli attack on Iran and retaliatory action. US President Donald Trump launched what he called major combat operations against Iran after weeks of military buildup and posturing.

The Senate voted against a resolution to restrict President Trump's ability to conduct military strikes on Iran, with the decision largely following party lines.