Oil prices slide after U.S.-Iran clashes near Strait of Hormuz
Oil prices took a hit this week after fresh clashes between the US and Iran near the Strait of Hormuz made energy markets jittery.
Brent crude crept up to $100.28 a barrel and WTI reached $94.86, but both are set for a weekly drop of more than 7%.
The fighting, which kicked off after U.S.-Israeli airstrikes on February 28, has raised concerns in the Gulf just as summer driving season approaches.
President Trump says ceasefire still holding
President Trump is downplaying the recent tension, saying the ceasefire is still holding.
Meanwhile, federal regulators are looking into $7 billion in oil trades made right before Trump's policy updates on Iran.
Experts warn that unless there's a real fix to these hostilities, oil prices could keep bouncing around every time there's trouble in the region.