Oil rises and U.S. stock futures slip after no U.S.-Iran deal is reached
The Facts
- Oil prices rose and U.S. stock futures fell after the United States and Iran failed to reach a deal.
- President Donald Trump said on social media Sunday that Iran's latest proposal was "TOTALLY UNACCEPTABLE!" and did not provide details of the proposal.
- Tehran has said the two countries were working on a short-term agreement that would pause fighting for 30 days and end Iran's blockade of the Strait of Hormuz.
- The Strait of Hormuz is a key route for oil and gas shipments, making developments in the U.S.-Iran conflict important for energy markets.
- U.S. gasoline prices have risen during the conflict with Iran, with AAA data putting the national average at about $4.52 a gallon on May 10.
- Energy Secretary Chris Wright said the Trump administration is open to considering a temporary suspension of the federal gasoline tax to help lower fuel costs for consumers.
- The federal gasoline tax under discussion is about 18.3 to 18.4 cents per gallon.
- It remains unresolved whether any temporary U.S.-Iran arrangement will be reached or whether the U.S. will actually suspend the federal gas tax.
How left and right are reading this
- Both agree
- Unresolved U.S.-Iran tensions around the Strait of Hormuz are already feeding through into markets and fuel costs, with no clear near-term fix from either a temporary arrangement or a possible federal gas-tax suspension.
- They split on
- Less a disagreement than a question of emphasis: the household pain of higher gasoline prices and uncertain relief, versus the broader need to restore stability in a critical energy corridor driving the disruption.
Analytical frames for this storyTap to explore
Context
Why does the Strait of Hormuz matter in this story?
It is a key shipping route for oil and gas, so any blockade or threat to traffic there can affect global energy supplies and prices NYT,El Financiero.
What fuel-tax change is the Trump administration considering?
Energy Secretary Chris Wright said the administration is open to a temporary pause in the federal gasoline tax, which is about 18.3 to 18.4 cents per gallon, as one option to reduce pump prices NYT,diariolibre.com.
Who is affected by these developments?
Investors reacted through higher oil prices and weaker stock futures, while U.S. drivers are affected through elevated gasoline prices that AAA put at roughly $4.52 a gallon nationally on May 10-11 NYT,Axios,Economic Times.
View all 100 sources
Wire services (5)
Independent coverage (50)
WJLAAverage gasoline prices in Virginia have risen in the last w...
Chattanoogan.ComGas Prices Rise 18.9 Cents In Chattanooga
WXYZGas prices down 14 cents in Michigan from last week, up $1.6...
neftegazru.comUS Gas Price Rose a Bit
KPRCHow drivers can save on gas using Amazon, Walmart and other ...
WPECFlorida gas prices fall after 4-year high, AAA says
Newsradio 1070 WKOKGas Prices Surge Again
Brigitte GabrielGas prices: Slight decreases at the pumps to begin the week ...
WCBD 2 - CharlestonGas prices in South Carolina continue to rise, GasBuddy repo...
CNHI NewsDespite the price at the pump, Ayotte won't drop state gas t...
AM 1240 and FM 95.3 WJONU.S. And Iran Talks Stall, Leading To Renewed Oil Price Clim...
Washington ExaminerGas prices: Slight decreases at the pumps to begin the week
Estrella DigitalEstados Unidos valora retirar el impuesto a la gasolina tras...
The Pulse » Chattanooga's Weekly AlternativeGas Prices Continue To Rise Locally, Up Nearly 19 Cents A Ga...
Houston ChronicleFact check: Did gas prices drop 'substantially' last week, p...
Telegraf.rsMediji pitali Trampovog ministra hoće li građani odahnuti: R...
CNN InternationalIt's not just drivers who hate high gas prices. So do gas st...
WAAY TV 31It's not just drivers who hate high gas prices. So do gas st...
Economic TimesGas prices today May 11: Check daily average rates in Califo...
B92Alarm u Americi: Cene naglo skočile, na stolu ukidanje porez...
The Daily GazetteSurging gas prices cut into Capital Region's wallets
Telegraf.rsRajt: Trampova administracija razmatra ukidanje poreza na go...
Diario El HeraldoEE UU considera suspender impuesto a la gasolina ante alza d...
The New York TimesOil Prices Rise as Prospects for U.S.-Iran Peace Deal Fizzle
infobaeEl gobierno de Estados Unidos podría suspender el impuesto a...
CiberCubaEE.UU. se plantea eliminar impuesto a la gasolina tras alza ...
TiempoAnaliza EE.UU suspender impuesto a la gasolina
Brasil 247Secretário dos EUA diz que governo Trump pode suspender impo...
InfoMoneyEUA estão abertos a suspender imposto sobre combustíveis, di...
El FinancieroTrump le copia el plan a México: Analiza bajar impuestos a c...
HomeEUA estão abertos a suspender imposto sobre combustíveis, di...
Jornal do Com�rcioEUA estão abertos a suspender imposto sobre combustíveis, di...
MetroEstados Unidos considera suspender impuesto a la gasolina an...
VanguardiaEU evalúa suspender el impuesto a la gasolina ante alza de p...
ПрофильСМИ: цены на бензин в США превысили 120 рублей
O PovoEUA estão aberto a suspender imposto sobre combustíveis, diz...
Directorio Cubano¿Suspenderán el impuesto a la gasolina en Estados Unidos? La...
Portal GMC OnlineEUA estão aberto a suspender imposto sobre combustíveis, diz...
Tribuna do SertãoEUA avaliam suspender imposto federal sobre combustíveis, af...
UOLEUA estão aberto a suspender imposto sobre combustíveis, diz...
Directorio CubanoEstados Unidos evalúa suspender impuesto a la gasolina por f...
Azeri - Press Informasiya AgentliyiВ США допустили снижение цен на бензин
TelemundoEl secretario de Energía afirma que el Gobierno está abierto...
BioBioChileEstados Unidos considera suspender impuesto a la gasolina po...
EL IMPARCIAL | Noticias de México y el mundoEEUU analiza eliminar impuestos a la gasolina luego de que l...
El Diario Nueva YorkGobierno de Trump evalúa suspender impuesto federal a la gas...
SrpskainfoTrampova administracija razmatra ukidanje poreza na gorivo
Zócalo SaltilloEU considera suspender impuesto a la gasolina ante alza de p...
Tanjug News AgencyRajt: Trampova administracija razmatra ukidanje poreza na go...
hondudiario.comEEUU considera suspender impuesto a la gasolina ante alza de...
About these frames
The Advocate: Liberty, speech, privacy, autonomy, rights, consent, choice. What freedoms are at stake.
The Analyst: Costs, jobs, inflation, growth, incentives, markets, tradeoffs. Follow the money.
The Architect: Stability, law, enforcement, institutional design, separation of powers, regulatory process, rule of law. How are order and governance maintained?
The First Responder: Who gets hurt or helped. Quality of life, vulnerable groups, public health, human cost and benefit.
See this differently than someone you know would? Two ways to keep it going.
The dial works on any URL — paste an article you read elsewhere this week.