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Analysis: A new oil crisis is underway. The next few weeks of the war will be important for the economy.

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Why the next few weeks of the Iran war are important for the US economy

Time is ticking for the US-Israel war in Iran. Opinions emerging from oil industry executives and analysts are that the economic and market fallout from the conflict could increase significantly if the Strait of Hormuz is not reopened within the next week to three. However, enough damage may have already been done to keep energy … Read more

Rising oil prices can increase food costs – but hoarding groceries “makes it worse,” an economist says.

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The 26-year-old works in a bookstore and lives on $53,000 a year in New York City.

Rising oil prices tend to drive up grocery costs, but that doesn’t mean consumers should rush out and save money, economists say. Brent crude has soared above $100 a barrel in recent weeks – after trading near $60 in January – as Iran’s war worsens the Strait of Hormuz, which transports a fifth of the … Read more