US crude oil prices jumped 14% after Iran fired on several ships in the Strait of Hormuz, disrupting a shaky ceasefire in the region.
March US retail sales rose 1.7%, largely due to a spike in gas prices from the ongoing Iran war, while business at gas stations surged 15.5%.
President Trump's approval rating on the economy fell to 30% amid inflation concerns, while unemployment claims rose slightly and mortgage rates continued to decline, reflecting mixed economic signals.
Beyond the gas pump, how is the Mideast conflict threatening global food supplies?
Why is record consumer spending clashing with historic lows in American sentiment?
Can falling mortgage rates shield the housing market from war-fueled inflation?
As allies question the U.S. naval blockade, what is the endgame in Hormuz?
With the world's largest energy crisis unfolding, is a global recession now inevitable?
Three years after the East Palestine disaster, are new safety laws enough?