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Oil prices plunged after Trump warned that Tehran would be hit "twenty times harder" if it attempted to halt oil flows through the Strait of Hormuz.
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The US president's comments lead to a drop in crude costs and a rebound in shares.
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The 10-year Treasury yield was flat as oil prices tumbled after Trump warned that Iran would be hit harder if it tried to halt Strait of Hormuz shipments.
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The Gulf conflict has led to higher fuel prices, and the cost of operating a plane has sharply increased. For travelers, that likely means higher fares.
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The price of oil surged Monday, as the effects of the Iran war hit markets worldwide and stoke fresh worries about inflation.
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Trump's answered questions about the U.S.-Israel-led war in Iran at a press conference — his first since the attacks began — held as oil and gas prices soar.
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Gulf Arab oil producers are cutting production as they run out of storage space because they can't export through the Strait of Hormuz
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;Resize=(620)) A prolonged global supply disruption could send food prices higher later this spring: analysts
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Oil prices exceeded $100 per barrel on Monday, reaching peaks unseen since 2022, as the Iran war triggered a global energy crisis.
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President Donald Trump called surging oil costs a "very small price to pay." Group of 7 leaders are set to convene on Monday to assess the economic fallout.
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;Resize=(620)) Canadians saw fuel prices climbing across the country this week as the conflict in the Middle East drives up the price of oil. One expert says those high numbers are likely to stick around for a while, even if the war ends in the next few weeks.
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