Oil Prices Surge Amid Ongoing US-Iran Tensions
Global oil prices have reached their highest levels since 2022 as tensions between the US and Iran continue. Gas prices in the US are also rising significantly. (sources: cbsnews, ft, theguardian, independent, usatoday)
Oil prices have surpassed $120 per barrel, driven by ongoing conflict and uncertainty regarding US-Iran relations. This increase is contributing to higher gas prices in the US.
- Oil prices have climbed above $120 per barrel, the highest since 2022.
- Gas prices in the US are rising as a result of the conflict.
- The US is reportedly considering military action regarding Iran.
Why it matters
The rising oil and gas prices could have broader implications for inflation and the economy.
↓ 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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