{"id":42934,"date":"2026-04-06T14:50:41","date_gmt":"2026-04-06T14:50:41","guid":{"rendered":"https:\/\/foreignnewstoday.com\/?p=42934"},"modified":"2026-04-06T14:50:41","modified_gmt":"2026-04-06T14:50:41","slug":"oil-prices-seesaw-gas-creeps-further-past-4-per-gallon-amid-iran-war-uncertainty","status":"publish","type":"post","link":"https:\/\/foreignnewstoday.com\/?p=42934","title":{"rendered":"Oil prices seesaw, gas creeps further past $4 per gallon amid Iran war uncertainty"},"content":{"rendered":"<p><br \/>\n<\/p>\n<div>\n<p>Oil prices seesawed Monday morning as the next stage of the Iran war remained unclear \u2014 with President Trump<a href=\"https:\/\/nypost.com\/2026\/04\/05\/us-news\/trump-makes-new-foul-mouthed-threat-to-iran-open-the-f-in-strait\/\"> threatening heavy attacks<\/a> but reports indicating regional mediators\u00a0are working on a 45-day ceasefire.<\/p>\n<p>Brent crude prices had risen 0.2% to $109.19 a barrel as of 9:45 a.m. ET. West Texas Intermediate jumped 1.2% to $112.86 after both benchmarks regained losses earlier in the morning.<\/p>\n<p>National average gasoline prices \u2013 which typically lag behind energy supply shocks by a few weeks \u2013 continued to climb, hitting $4.12 a gallon.\u00a0<\/p>\n<figure class=\"wp-block-image aligncenter size-large\"><button class=\"button button--modal-trigger\" aria-label=\"Open the image in a modal.\" data-modal-image=\"39003453\"><br \/>\n\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"icon-plus\" fill=\"#fff\" viewbox=\"0 0 1033 1000\" width=\"1em\" height=\"1em\"><path d=\"M380 364V0h273v355h380v290H653v355H380V645H0V355h380v9z\"\/><\/svg><br \/>\n<\/button><br \/>\n<figcaption>President Trump on Sunday warned Iran that it is facing a new deadline to reopen the strait. <span class=\"credit\">MediaPunch \/ BACKGRID<\/span><\/figcaption><\/figure>\n<p>President Trump on Sunday warned Iran that it is facing a new deadline of by 8 p.m. ET Tuesday to reopen the Strait of Hormuz \u2013 a vital maritime route for 20% of the world\u2019s oil \u2013 or face brutal attacks on its infrastructure.<\/p>\n<p>\u201cTuesday will be Power Plant Day, and Bridge Day, all wrapped up in one, in Iran. There will be nothing like it!!! Open the F\u2013kin\u2019 Strait, you crazy bastards, or you\u2019ll be living in Hell \u2013 JUST WATCH! Praise be to Allah,\u201d the commander-in-chief wrote in a Truth Social post.\u00a0<\/p>\n<p>Hours later, <a href=\"https:\/\/nypost.com\/2026\/04\/06\/us-news\/iran-vows-devastating-and-widespread-retaliations-if-trump-follows-through-with-fresh-strikes\/\">Iran vowed \u201cmuch more devastating and widespread\u201d<\/a> retaliation if Trump follows through with his threat to ramp up strikes.<\/p>\n<aside class=\"single__inline-module aligncenter wp-block-nypost-editor-primary-tag\">\n<\/aside>\n<p>Trump said last Wednesday that the US would <a href=\"https:\/\/nypost.com\/2026\/04\/01\/world-news\/trump-says-us-will-be-finished-in-iran-in-2-3-weeks-we-want-to-knock-out-every-single-thing-they-have\/\">leave Iran in two to three weeks<\/a>, but investors have been concerned that the exit could come without a deal to reopen the strait.<\/p>\n<p>Iran\u2019s effective blockade of the route has caused the worst-ever energy supply disruption \u2013 with an estimated 1 billion barrels to be lost by the end of the month, according to TD Securities.\u00a0<\/p>\n<p>The US, Iran and regional mediators have been discussing a deal for a potential 45-day ceasefire that could lead to a permanent end to the war, <a href=\"https:\/\/www.axios.com\/2026\/04\/06\/iran-war-us-tehran-ceasefire-talks\" target=\"_blank\" rel=\"nofollow noopener\" data-nyp-affiliate=\"true\">Axios reported<\/a> on Sunday night.<\/p>\n<p>Source familiar with the talks acknowledged getting a deal before Trump\u2019s deadline was a long shot, but cast it as a last chance to prevent a major escalation of the conflict.<\/p>\n<figure class=\"wp-block-image aligncenter size-large\"><button class=\"button button--modal-trigger\" aria-label=\"Open the image in a modal.\" data-modal-image=\"39003451\"><br \/>\n\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"icon-plus\" fill=\"#fff\" viewbox=\"0 0 1033 1000\" width=\"1em\" height=\"1em\"><path d=\"M380 364V0h273v355h380v290H653v355H380V645H0V355h380v9z\"\/><\/svg><br \/>\n<\/button><br \/>\n<img loading=\"lazy\" style=\"aspect-ratio:1.49489051;display:block\" loading=\"lazy\" decoding=\"async\" data-modal-image=\"39003451\" width=\"882\" height=\"590\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?w=1024\" alt=\"Cargo ships in the Gulf, near the Strait of Hormuz.\" class=\"wp-image-39003451\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?quality=75&amp;strip=all 1578w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=300,200&amp;quality=75&amp;strip=all 300w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=768,514&amp;quality=75&amp;strip=all 768w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=1024,685&amp;quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=1536,1028&amp;quality=75&amp;strip=all 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=600,400&amp;quality=75&amp;strip=all 600w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=741,496&amp;quality=75&amp;strip=all 741w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=576,385&amp;quality=75&amp;strip=all 576w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=457,305&amp;quality=75&amp;strip=all 457w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=440,294&amp;quality=75&amp;strip=all 440w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=421,282&amp;quality=75&amp;strip=all 421w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=389,260&amp;quality=75&amp;strip=all 389w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=360,240&amp;quality=75&amp;strip=all 360w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=340,227&amp;quality=75&amp;strip=all 340w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=320,213&amp;quality=75&amp;strip=all 320w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=314,209&amp;quality=75&amp;strip=all 314w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=306,204&amp;quality=75&amp;strip=all 306w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=280,187&amp;quality=75&amp;strip=all 280w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=260,174&amp;quality=75&amp;strip=all 260w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=246,164&amp;quality=75&amp;strip=all 246w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=234,156&amp;quality=75&amp;strip=all 234w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=195,130&amp;quality=75&amp;strip=all 195w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=180,120&amp;quality=75&amp;strip=all 180w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=171,114&amp;quality=75&amp;strip=all 171w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=160,107&amp;quality=75&amp;strip=all 160w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=144,96&amp;quality=75&amp;strip=all 144w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=107,71&amp;quality=75&amp;strip=all 107w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=93,62&amp;quality=75&amp;strip=all 93w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=84,56&amp;quality=75&amp;strip=all 84w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=60,40&amp;quality=75&amp;strip=all 60w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=105,70&amp;quality=75&amp;strip=all 105w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=81,54&amp;quality=75&amp;strip=all 81w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=200,134&amp;quality=75&amp;strip=all 200w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=231,155&amp;quality=75&amp;strip=all 231w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=322,215&amp;quality=75&amp;strip=all 322w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=659,441&amp;quality=75&amp;strip=all 659w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=90,60&amp;quality=75&amp;strip=all 90w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=120,80&amp;quality=75&amp;strip=all 120w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=1200,803&amp;quality=75&amp;strip=all 1200w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=87,58&amp;quality=75&amp;strip=all 87w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=50,33&amp;quality=75&amp;strip=all 50w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2026\/04\/cargo-ships-gulf-near-strait-124054355.jpg?resize=150,100&amp;quality=75&amp;strip=all 150w\" sizes=\"auto, (max-width: 882px) 100vw, 882px\"\/><figcaption>Investors are hopeful for the free flow of crude through the strait to resume soon. <span class=\"credit\">REUTERS<\/span><\/figcaption><\/figure>\n<p>Since the US and Israel launched air strikes on Iran on Feb. 28, the International Energy Agency has approved a <a href=\"https:\/\/nypost.com\/2026\/03\/11\/world-news\/iea-to-recommend-release-of-400m-oil-barrels-its-largest-ever-release-to-curb-soaring-prices-due-to-iran-war-report\/\">record release of 400 million barrels<\/a> of oil from its strategic reserves. Trump ordered the <a href=\"https:\/\/nypost.com\/2026\/03\/11\/us-news\/trump-signals-he-will-tap-into-strategic-petroleum-reserve-to-bring-down-gas-prices\/\">release of 172 million barrels<\/a> from the US Strategic Petroleum Reserve.<\/p>\n<p>But there are not enough reserves in the world to make up for the vast amounts of oil that typically traverse the strait, experts say.<\/p>\n<p>Analysts have also warned that <a href=\"https:\/\/nypost.com\/2026\/03\/20\/business\/armageddon-attack-on-qatari-plant-could-keep-energy-prices-high-around-the-world-analysts\/\">strikes on key energy facilities<\/a> in the Middle East could keep oil prices elevated even if the war ends soon, since it will take significant time and money to repair damages.\u00a0<\/p>\n<p>Economists have cautioned that energy shocks tend to ripple across consumer prices, reheating fears of inflation and interest-rate hikes \u2013 though Fed Chairman Jerome Powell has said there is <a href=\"https:\/\/nypost.com\/2026\/03\/30\/business\/feds-powell-says-no-need-to-hike-interest-rates-now-officials-should-look-past-higher-energy-prices\/\">no need to raise rates yet<\/a>.<\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/nypost.com\/2026\/04\/06\/business\/oil-prices-seesaw-gas-creeps-further-past-4-per-gallon-amid-iran-war-uncertainty\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oil prices seesawed Monday morning as the next stage of the Iran war remained unclear \u2014 with President Trump threatening heavy attacks but reports indicating regional&hellip;<\/p>\n","protected":false},"author":1,"featured_media":42935,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[40],"tags":[],"class_list":["post-42934","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/posts\/42934","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=42934"}],"version-history":[{"count":0,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/posts\/42934\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/media\/42935"}],"wp:attachment":[{"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=42934"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=42934"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=42934"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}