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newsMay 1, 20260:43

Oil prices hit four-year high amid Iran war

7News Just In

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Global oil prices have reached a four-year high of $126 per barrel amid the U.S. and Israel's war on Iran. President Donald Trump stated the conflict could continue for months but maintains oil prices will drop quickly once the war concludes. Trump also indicated he will probably withdraw U.S. troops from Spain and Italy due to their lack of support for the military action.

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Oil prices hit four-year high amid Iran war

7News Just In

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7News Just InOil prices hit four-year high amid Iran war. Machine-transcribed; use the interactive transcript above to jump the player to any line.

The oil prices have hit a four-year high because of the U.S. and Israel's war on Iran. It reached $126 per barrel overnight, following President Donald Trump's comments that the conflict could go on for months. However, the American leader maintains oil prices will go down quickly once the war ends. Trump also says he will probably pull up U.S. troops out of Spain and Italy because of their lack of support for the war.

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