US oil prices top $100 after Iran sinks GFS Pride
World
Oil prices in the US just crossed the $100 mark, mainly because things are heating up in the Strait of Hormuz.
Iran recently attacked several commercial ships there, including sinking the GFS Pride with a missile, which has made everyone extra nervous about oil supplies and sent prices soaring.
Ukraine to target Russian refineries
On top of that, Ukraine is now planning to target Russian refineries after new attacks on its infrastructure, breaking the "energy ceasefire" that President Trump had declared.
Plus, US oil stockpiles dropped by over eight million barrels last week thanks to Hurricane Isaias shutting down Gulf Coast production, so between conflict and weather, global oil supply just keeps getting tighter.