Iran said the world should be prepared for oil to hit $200 a barrel as its forces attacked merchant ships on Wednesday in the blockaded Gulf. Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider,

Iran continued retaliatory strikes across the Middle East and threatened to shut down the Strait of Hormuz. President Trump said Monday he would not allow "a terrorist regime to hold the world hostage and attempt to stop the globe's oil supply.

For a long time, the nightmare scenario that deterred the U.S. from even thinking about an attack on Iran and which got them to urge restraint on Israel was that the Iranians w

Trump has said the U.S. will hit Iran "twenty times harder" than it already has if continues to stop the flow of oil.

Iran launched new strikes against its Persian Gulf neighbors Tuesday as the conflict with the U.S. and Israel continues. President Trump said Monday the war would end "very soon." CBS News' Natalie Brand and Ramy Inocencio have the latest.

The U.S. says it took out more than a dozen mine-laying Iranian vessels, and the Islamic Republic vowed to block the region’s oil exports, saying it would not allow “even a single liter” to be shipped

At a Pentagon briefing on the war with Iran, Defense Secretary Pete Hegseth said the US will not relent until “the enemy is totally and decisively defeated.”

Iran’s attacks on regional oil infrastructure and pledges to choke off maritime traffic left markets on edge Tuesday as the United States promised blistering new strikes. The war entered its 11th day with no end in sight as its effects were felt across the region and beyond.