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Axios

Oil prices surge on Trump's blockade vow, failed U.S.-Iran talks

Oil prices surge on Trump's blockade vow, failed U.S.-Iran talks
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Oil prices jumped over 7% to well over $100 per barrel when markets opened Sunday evening. Why it matters: The latest surge shows that traders don't see last week's ceasefire deal reviving large-scale tanker transit through the Strait of Hormuz — and it undoes a large amount of the price drop that followed the pause in hostilities. Continued high prices will delay major relief at U.S. gasoline pu

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President Trump lashed out against Pope Leo XIV on Sunday night, calling him "WEAK on Crime, and terrible for Foreign Policy." The big picture: The president's comments escalate already high tensions between the president and the first U.S.-born pope, who has spoken out on Trump administration immigration policies and the Iran war. What they're saying: In a lengthy Truth Social post, Trump criticized the Chicago-born pontiff on matters including the Catholic Church's stance during the COVID pan

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