1 of 1
Story summary
- Oil prices surged in May, with the Iran conflict accounting for over 60% of the month’s price gains.
- Energy prices rose sharply in May, with the energy index up 3.9% and gasoline up 7% month-to-month, driving most of the inflation increase.
- President Donald Trump warned Iran it will “pay the price” after U.S. retaliatory strikes, raising concerns that oil market disruptions could persist.
