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Beijing tamped down its GDP growth target this year to a range of 4.5% to 5%, the least ambitious goal on record going back to the early 1990s.
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The U.S. strikes on Kharg Island and Trump's threat to hit Iran's oil infrastructure mark a major escalation in the war, according to JPMorgan.
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Wright said gas prices should come down soon, but there is no guarantee.
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The conflict in the Middle East has entered a third week, with Israel announcing a barrage of new strikes on western Iran on Sunday, while the U.S. defense department released the names of six service members who died when their military refueling aircraft crashed.
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U.S. crude oil passed $100 per barrel Sunday, continuing its surge despite efforts by the Trump administration and allied countries to slow rising prices.
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President Trump has urged China, Britain, France, Japan and South Korea to send warships to help reopen the waterway, even though they were not involved in the U.S.-Israeli attack on Iran.
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Pope Leo XIV called on leaders in the Iran war to reopen talks.
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U.S. allies and rivals responded cautiously after President Donald Trump said they should police the Strait of Hormuz, as Iranian threats to strike shipping on the vital trade route continue to cause chaos in global markets."Many countries, especially those who are affected by Iran's attempted closure of the Hormuz Strait, will be sending War Ships" to secure the shipping route, he posted Saturday on Truth Social, listing China, France, Japan, South Korea, the U.K. and "others" among t
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The comment from Brendan Carr came on the heels of a social media message from President Trump criticizing the news media's coverage of the war with Iran.
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Trump's administration has reportedly rebuffed efforts by Middle Eastern allies to start diplomatic negotiations aimed at ending the Iran war.
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The unit's arrival in the coming days will give the Pentagon the ability to quickly launch raids.
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