Oil prices rise as tensions with Iran persist
Brent crude prices have reached their highest levels since 2022 amid ongoing tensions between the US and Iran. Gas prices in the US have also increased significantly. (sources: ft, theguardian, independent, usatoday, wsj)
Brent crude has risen to over $123 a barrel, marking a significant increase due to the unresolved US-Iran conflict. US gas prices have reached record highs since the onset of the Iran war.
- Brent crude prices increased by 4.5 percent, reaching over $123 a barrel.
- US gas prices have hit their highest levels since the start of the Iran war.
- The US has indicated it will maintain its blockade on Iran amid rising oil prices.
Why it matters
The rise in oil and gas prices could contribute to higher inflation and economic pressures globally.
↓ Why this is on ModernAction
3 bills on this issue are moving right now — and the most active one is A joint resolution to direct the removal of United States Armed Forces from hostilities within or against the Islamic Republic of Iran that have not been authorized by Congress..
SJRES104 · 119th Congress
A joint resolution to direct the removal of United States Armed Forces from hostilities within or against the Islamic Republic of Iran that have not been authorized by Congress.
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About this bill
What SJRES104 actually does
This story is about Oil prices hit new highs as US reportedly mulls Iran military action. This bill would direct withdrawal from unauthorized hostilities “within or against” Iran.
If passed, it would:
- Direct withdrawal from unauthorized hostilities “within or against” Iran (with limited exceptions described in the • Force Congress to explicitly authorize (or stop) continued Iran hostilities rather than leaving it solely to the.
2 other bills moving on this issue
Take action on any of them individually.
This story is about Oil prices hit new highs as US reportedly mulls Iran military action. This bill would expand/require sanctions related to significant transactions supporting Iranian oil/petrochemical trade (as described in.
If passed, it would
- Expand/require sanctions related to significant transactions supporting Iranian oil/petrochemical trade (as described • Increase pressure/enforcement tools aimed at constraining revenue from Iran-linked petroleum activity (a key lever in U.
This story is about Oil prices hit new highs as US reportedly mulls Iran military action. This bill would prohibit obligating/expending federal funds for military force against Iran absent a post-enactment.
If passed, it would
- Prohibit obligating/expending federal funds for military force against Iran absent a post-enactment • Clarify that earlier AUMFs do not authorize force against Iran.
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