Oil prices have skyrocketed as the U.S.-Israeli war on Iran entered its 10th day on Monday. President Trump reacted on social media, saying prices "will drop rapidly when the destruction of the Iran nuclear threat is over.

World shares tumbled on Monday, with Japan's benchmark Nikkei 225 index plunging more than 5%, after oil prices spiked at nearly $120 a barrel.

Oil prices surged about 20% on Monday, hitting their highest since July 2022, as the expanding U.S.-Israeli war with Iran led some major Middle Eastern oil producers to cut supplies and on fears of prolonged disruption to shipping through the Strait of Hormuz chokepoint.

U.S. President Donald Trump says that the war with Iran began because that country was starting work on a new site for developing material for nuclear weapons

Iran has launched more attacks on Israel and Gulf countries, hours after Iranian state TV said Mojtaba Khamenei had been named supreme leader

U.S. President Donald Trump said Monday that the war against Iran may be short-lived despite the country's selection of a new hard-line supreme leader to oversee the fight for the Islamic theocracy’s survival.

Trump, who campaigned in 2024 on cutting prices ― specifically promising to bring gas below $2 a gallon ― insisted that the jump in prices is only “temporary” and that “

The Iran war has upended oil production and shipping across the Middle East, straining energy supplies worldwide