NEW YORK/RIYADH — Global oil prices breached the $100-per-barrel threshold on Friday as the escalating conflict between the United States, Israel, and Iran severely disrupted energy corridors in the Middle East. One week after joint military operations began, the Strait of Hormuz remains effectively bottlenecked, leaving an estimated 20 million barrels of crude stranded. Iranian retaliatory strikes on Saudi Arabian refineries and Qatari LNG facilities have removed nearly 9 million barrels of oil from the daily global market, triggering an 11% jump in U.S. gasoline prices and a 200% surge in Asian jet fuel costs. While the Trump administration has proposed a $20 billion insurance package to safeguard maritime trade, energy analysts warn that financial guarantees cannot offset the kinetic threat of drone swarms and naval mines. As the domestic price of regular gasoline hits $3.32 per gallon, American consumers from Louisiana to Vermont express growing cynicism over the prospect of a swift resolution to the regional quagmire.
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🚨 WAR UPDATE: We are providing 24/7 coverage of the US-Iran War 2026 from our newsroom. For the full timeline of events from the Feb 28th outbreak to today's strikes, check our official playlist: • NEW YORK ERUPTS: Protesters Rage Against T...
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