It's down a bit after early morning trading today.
Headline: New York Times, 4/28/2026
Gregory Schmidt reports:
Oil prices hit a fresh wartime high on Thursday, surging above $120 a barrel before pulling back in volatile trading on concerns that the war in Iran could escalate, leading to a longer disruption of fuel supplies from the Middle East.
President Trump maintained his stance that the naval blockade of Iran’s ports would persist until Tehran gives up its nuclear program. His remarks to Axios on Wednesday suggested that the standoff over the Strait of Hormuz, the vital trading route for oil and natural gas supplies, was not nearing a resolution.
The average price of regular gasoline in the United States has followed oil higher, hitting $4.30 a gallon on Thursday, up 27 cents in a week, according to data from the AAA motor club. [emphasis added]
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