Smoke rises from the Fujairah oil industrial zone in the United Arab Emirates, following a fire caused by debris from the interception of an Iranian drone, on March 4, 2026. (Illustrative photo: Amr Alfiky/Reuters)
The markets are taking a hit. Faced with the prospect of a war lasting longer than expected, stock exchanges have followed the lead of crude prices, which nearly reached $84 a barrel on the morning of Wednesday, March 4. This is a cause for concern for the U.S. administration, which fears a surge in prices in the United States as the upcoming midterm elections approach in November. "The Biden administration and its allies in Congress gave us the worst inflation in our country's history. But in just twelve months, my administration brought core inflation down to its lowest level in over five years," Donald Trump boasted during his State of the Union address on Feb. 24. Read more Oil, tourism, trade: Early economic fallout of the US-Iran war While the U.S. president hammered home on March 3 that the United States could...
The markets are taking a hit. Faced with the prospect of a war lasting longer than expected, stock exchanges have followed the lead of crude prices, which nearly reached $84 a barrel on the morning of Wednesday, March 4. This is a cause for concern for the U.S. administration, which fears a surge in prices in the United States as the upcoming midterm elections approach in November. "The Biden administration and its allies in Congress gave us the worst inflation in our country's history. But in just twelve months, my administration brought core inflation down to its lowest level in over five years," Donald Trump boasted during his State of the Union address on Feb. 24. Read more Oil, tourism, trade: Early economic fallout of the US-Iran war While the U.S. president hammered home on March 3 that the United States...
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