Oil surpassed $126 a barrel Thursday, its highest price since 2022, as traders worried about a prolonged US-Iran war following President Donald Trump’s decision to extend a blockade of Iranian ports.

Even as Iran squeezes world energy supplies with its chokehold on the Strait of Hormuz, its own oil industry is increasingly being threatened by an American blockade. With no way to export the oil it is pumping out and diminishing room to store it at home,

Brent crude prices hit a fresh four-year high ​on concerns that the U.S.-Iran war could worsen and lead to a protracted Middle East oil supply disruption.

A top Pentagon official on Wednesday said that the cost of the ongoing U.S. conflict with Iran is estimated to be $25 billion so far, as the war nears a 60-day mark

The $25 billion estimate that a top Pentagon official gave to lawmakers on Wednesday for the total cost to date of the Iran war is a lowball figure that does not include the cost of repairing extensive damage suffered by US bases in the region,

An Iranian football federation delegation, including a former member of Iran's Islamic Revolutionary Guard Corps, said they turned back at Toronto's main airport this week, citing ​their treatment by Canadian immigration,

Sanctioned tankers are allegedly disguising Iranian oil shipments as Iraqi cargo while Trump doubles down on the naval blockade to squeeze Tehran.

The USS Gerald R. Ford aircraft carrier is expected to leave the Middle East in the coming days, a U.S. official confirmed to CBS News.