Back to today’s briefing

Story perspectives

U.S. Turmoil: Oil Prices Surge Amid Iran Conflict

3/10/2026

46 4 Full Breakdown

Summary

Story summary

The ongoing war with Iran is causing U.S. turmoil, with oil prices fluctuating and gas prices now averaging $3.54 per gallon.
U.S. President Donald Trump said the military operation is "very complete."
Defense Secretary Pete Hegseth says the strikes are just beginning.
Republicans worry about higher energy costs ahead of the midterm elections as households grapple with rising fuel prices.

History

Historical Context

The Gulf War began on August 2, 1990, when Iraq, led by Saddam Hussein, invaded Kuwait, claiming economic grievances and territorial rights. The U.S.-led coalition launched Operation Desert Storm on January 17, 1991, liberating Kuwait by February 28. This conflict significantly impacted global oil prices, which surged by 50%, and continues to influence U.S. energy policies amid ongoing tensions with Iran.

1 of 2

Story summary

The ongoing war with Iran is causing U.S. turmoil, with oil prices fluctuating and gas prices now averaging $3.54 per gallon.
U.S. President Donald Trump said the military operation is "very complete."
Defense Secretary Pete Hegseth says the strikes are just beginning.
Republicans worry about higher energy costs ahead of the midterm elections as households grapple with rising fuel prices.

1 / 2