Gas Prices Soar, Oil Talks Stalled: Trump's Win

0:00U.S. gas prices just hit their highest point in four years, averaging $4.18 a gallon nationwide. That's about a dollar more than last year, driven by spiking oil costs tied to stall talks over the straight of Hormuz. Oil benchmarks climb sharp this week, with Brent Crew touching $111 a barrel and U.S. West Texas Intermediate nearing one. 100. Negotiators of stuck on reopening that key waterway, where a fifth of global oil flows through amid the tensions. Prices swing wild by state, by $3.72 a gallon in Texas versus almost six bucks in California. Folks in import heavy spots are feeling the pinch hardest at the pump right now. President Trump called out Iran's proposal as weak, rejecting their push to lift the U.S. naval blockade without a nuclear deal. Iranian leaders admitted their economies collapsing and begged to reopen the straight soon, while the United Arab Emirates just ditched OPEC handing Trump a win against the cartels price games.

1:01Western oil giants are caching in big, with BP's first quarter profits more than doubling to $3,200,000. As these talks grind on, expect pumps to stay pricey, keep your eyes on the next moves. That's the story for today. Adelaide News Today, Driven by AI.