Neutralizing ⁠Iran could make crude oil much ⁠cheaper because the threat posed by Tehran imposed a "terror premium" that inflated global ​oil prices for decades, a top White House adviser said in a report to be released on Monday.

It’s a reprieve, for now at least, after oil prices spiked from roughly $70 before the United States and Israel began their attacks on Iran. In response, Iran has nearly halted traffic through the narrow Strait of Hormuz,

A drop in oil prices helped send the U.S. stock market to its best day since the war in Iran began. The S&P 500 climbed 1% Monday for its biggest gain in five weeks. The Dow Jones Industrial Average added 0.

Israel has launched new attacks on Beirut and Tehran, while Dubai's airport suspended flights after an Iranian drone hit a nearby fuel tank and sparked a fire

CNN’s Eleni Giokos reports from Dubai on what a prolonged bottleneck in the Strait of Hormuz could mean for oil prices worldwide.

For Americans, surging oil prices mean spending more at the pump. The national average price for gasoline hit $3.69 on Sunday.

The U.S. Embassy compound in Baghdad has been struck again, and debris from an intercepted Iranian drone hit an oil facility in the United Arab Emirates as the war enters its third week.

Iran urged people Saturday to evacuate the Middle East's busiest port and two others in the United Arab Emirates, openly threatening a neighboring country's non-U.S. assets for the first time as its war with the United States and Israel entered a third week.