Saturday 21/March/2026 – 07:15 AM
CNN revealed that the Trump administration estimates that the rise in prices resulting from the war may last for several months.
The network explained that The White House is having difficulty finding alternatives to compensate for the shortage in energy supplies.
High oil prices
Oil prices rose 1% in volatile trading yesterday, Friday, amid the United States’ preparations to send thousands of additional soldiers to the Middle East in the coming weeks.
Brent crude futures for May delivery rose 91 cents, or 1%, to $109.64 per barrel by 1611 GMT yesterday, while US West Texas Intermediate crude for April delivery rose $1.29, or 1.3%, to $97.43.
Gasoline prices at gas stations in the United States jumped by more than 30% this month, heading towards the level of $4 per gallon.
Last Tuesday, the average price exceeded benzene In the United States, $3.75 per gallon is equivalent to 3.7854 liters, for the first time since October 2023, at a time when global fuel markets are still suffering from supply disruptions resulting from the war in the Middle East, according to Reuters.
The war in the Middle East has choked off supplies from one of the world’s largest oil producing regions, as Iranian attacks on shipping in the Strait of Hormuz have hampered exports from Gulf producers.
