Gasoline prices could rise as early as this weekend if Middle East tensions disrupt oil shipments, traders warn. President Trump's warning for Iran to negotiate a fair deal immediately has raised concerns about fuel costs. Military pressure could escalate into a broader conflict that disrupts global oil supplies.
Trump has sent the carrier USS Gerald Ford and three escort warships into the Mediterranean, adding to U.S. firepower positioned within striking distance of Iran. The buildup gives him options for limited strikes if Iran doesn't curb its nuclear program.
Advisers outlined options ranging from limited strikes to a plan—first reported by Axios—to kill Supreme Leader Ali Khamenei and his son Mojtaba, according to two senior officials briefed on the discussion. Trump insists he hasn't finalized any decision.
U.S. envoys Steve Witkoff and Jared Kushner met Iranian officials in Geneva earlier this week. They initially demanded "zero enrichment" on Iranian soil. Trump's team simultaneously signaled flexibility for "token" enrichment if Iran proves it poses no weapons threat.
Iran's Foreign Minister Abbas Araghchi said a detailed proposal would be delivered within two to three days. He promised "confidence-building measures" like allowing UN inspectors back and removing highly enriched uranium stocks.
Araghchi emphasized that Iran won't surrender its enrichment rights entirely. He framed any agreement as a "win-win" that addresses U.S. concerns. Iranian leaders insist their program is for civilian use only.
Trump cited an Iranian opposition group's claim of 32,000 protester deaths—a figure far above independent estimates—while criticizing the regime. Araghchi demanded evidence for these claims, accusing the U.S. of inflating numbers to justify pressure.
Fox News host Rachel Campos-Duffy criticized Trump's approach, arguing he needs a stronger rationale before launching strikes that could lead to a broader conflict.
Some advisers have counseled patience, noting that growing U.S. military presence increases Trump's leverage over time.
Israel and some Gulf governments support pressuring Iran, though diplomats say others prefer a diplomatic solution to avoid regional war. Mediators from Oman and Qatar have told Iran and the U.S. that any deal must enable both sides to claim victory and be acceptable to Gulf countries and Israel.
The Pentagon's options underscore the high stakes. Fighter jets and refueling planes stand ready for action.
Analysts warn that wider conflict could push oil prices past $100 a barrel and rattle consumer confidence, though outcomes remain uncertain. Iran's proposal, if substantive, could provide a path to negotiations, though the timeline for resolution remains uncertain.
If you're pumping gas this weekend, expect the price at the nozzle to climb. President Trump's ultimatum for Iran to strike a nuclear deal immediately threatens to spike fuel costs, as Middle East tensions could disrupt oil supplies and force Americans to pay more for everyday drives amid a potential U.S. military clash.
Trump has ramped up U.S. forces around Iran, deploying the aircraft carrier USS Gerald Ford and three warships to the Mediterranean Sea. This buildup, ordered in the past month, gives him options for limited strikes if Iran doesn't curb its nuclear program, including targeting Supreme Leader Ali Khamenei. Advisers presented Trump with plans that range from symbolic attacks to more aggressive moves, like eliminating Khamenei and his son Mojtaba, though Trump insists he hasn't finalized any decision.
U.S. envoys Steve Witkoff and Jared Kushner met Iranian officials in Geneva earlier this week, demanding "zero enrichment" on Iranian soil. Yet, Trump signaled flexibility for a "token" enrichment deal if Iran proves it's purely for peaceful purposes, a shift that could avert war but faces skepticism from his own team.
Iran's Foreign Minister Abbas Araghchi countered with a promise of a detailed proposal in the next two or three days, offering "confidence-building measures" like allowing UN inspectors back and removing highly enriched uranium stocks. Araghchi emphasized that Iran won't surrender its enrichment rights entirely, framing any agreement as a "win-win" that addresses U.S. concerns without admitting defeat. This stance directly challenges Trump's red lines, as Iranian leaders insist their program is for civilian use only.
Meanwhile, UN experts and Iranian opposition groups highlight the human cost, estimating thousands of protester deaths that Trump cited to criticize the regime. Araghchi demanded evidence for these claims, accusing the U.S. of inflating numbers to justify pressure, which could harden Iran's position and prolong negotiations.
Critics within Trump's circle, including Fox News host Rachel Campos-Duffy, argue he needs a stronger rationale before launching strikes that could drag the U.S. into another conflict. Some advisers urge patience, noting the growing U.S. military presence boosts leverage over time. In contrast, British officials expressed frustration, as Trump's threats complicated a separate deal over the Chagos Islands, where a U.S. air base is located.
Gulf countries and Israel, key U.S. allies, quietly back the hard line, fearing Iran's nuclear advances. Yet, mediators from Oman and Qatar are pushing for compromise, warning that a deal must satisfy all sides to prevent escalation.
The Pentagon's options underscore the high stakes, with deployments like fighter jets and refueling planes ready for action. For everyday Americans, this means not just higher gas bills but the risk of broader economic ripples, as regional instability could hit military spending and global markets. Iran's proposal, if substantive, might defuse the crisis, but with Trump eyeing a strike as soon as this weekend, the clock is ticking for a resolution that keeps the peace.
Highlighted text was flagged by the council. Tap to see feedback.