Category: USA Politics

The top Senate Democrat wants President Donald Trump to tap the nation’s oil stockpile as fuel prices skyrocket, years after blocking his attempt to replenish the supply when prices were low.

Senate Minority Leader Chuck Schumer, D-N.Y., called on Trump to unleash reserve barrels of oil from America’s Strategic Petroleum Reserve (SPR) as oil prices spike amid the ongoing conflict in the Middle East.

Schumer argued in a statement that the reserve “exists for moments exactly like this.”

TRUMP’S ENERGY DOMINANCE REWRITES THE STRATEGIC PETROLEUM RESERVE AFTER BIDEN DRAWDOWNS

“When wars and global crises disrupt energy markets, the United States has the ability to act, but President Trump and his administration are refusing to do so,” Schumer said. “Trump should release oil from the SPR now to stabilize markets, bring prices down, and stop the price shock that American families are already feeling thanks to his reckless war.”

During his first term, Trump wanted to use about $3 billion from a colossal COVID-19 stimulus package making its way through Congress to fill the reserve, but the move was promptly rejected by Schumer and congressional Democrats, who panned it as a “bailout” for the oil industry.

The price per barrel at the time was roughly $29, according to WTI Crude Oil. Now, oil has eclipsed $110 per barrel over the weekend for the first time since 2022.

Though the SPR has capacity for over 700 million barrels of crude oil, the reserve currently has far less.

TANKERS TO RESUME NORMAL MOVEMENT IN MIDDLE EAST IN ‘A FEW WEEKS’ AT WORST, ENERGY SEC SAYS, ENDING OIL SURGE

That’s because under former President Joe Biden, it was tapped twice — once to relieve soaring fuel prices as the nation still grappled with the economic fallout from the COVID-19 pandemic, and another time to combat increased energy costs at the onset of the war between Russia and Ukraine.

At the end of Biden’s term, the reserve had about 415 million barrels of crude on hand, according to data from the Department of Energy. Schumer supported both instances when Biden opened the nation’s oil reserves but, years prior, blocked Trump from building up the stockpile toward the end of his first term.

“Senator Schumer championed Joe Biden’s Green New Scam, which raised energy costs, threatened our national security, and stifled American energy independence,” White House spokeswoman Taylor Rogers told Fox News Digital in a statement. “President Trump has been unleashing American energy dominance since day one, and now, American oil and gas production is at record highs.” 

GAS PRICES COULD JUMP AS MIDDLE EAST TENSIONS THREATEN GLOBAL OIL SUPPLY

Schumer lauded Biden’s first move to tap into the SPR in 2021, arguing that it provided “much-needed temporary relief at the pump.”

“Of course, the only long-term solution to rising gas prices is to continue our march to eliminate our dependence on fossil fuels and create a robust green energy economy,” he said at the time.

And toward the end of Biden’s presidency, his administration did buy back barrels of oil to refill the reserves, which Schumer did not object to. 

Fast-forward, and the price per barrel of oil has launched into the stratosphere since Trump’s Operation Epic Fury and Iran’s response to put the Strait of Hormuz — a key route ferrying barrels around the globe — into a chokehold.

For now, the administration has no public plans to tap into the reserve as Americans undergo sticker shock at the pump.

Energy Secretary Chris Wright argued that the best way to lower prices was to reopen the Strait of Hormuz by neutralizing Iran’s ability to target oil tankers.

Wright told Fox News over the weekend that the disruption would last for “weeks, certainly not months.”

“We believe this is a small price to pay to get to a world where energy prices will return back to where they were,” Wright said. “Iran will finally be defanged, and now you can see more investment, more free flow of trade, and less ability to threaten energy supplies.”

Sen. Cory Booker, D-N.J., facing a re-election campaign in 2026, announced a new tax-cut bill, the Keep Your Pay Act, that would eliminate federal income taxes on the first $75,000 of income for most households and expand key tax credits for working families.

Booker’s plan increases the standard deduction to $75,000 for married couples filing jointly, with proportional relief for single filers and heads of household, reducing federal income tax on the median American family by an estimated 85%.

“New Jerseyans are working harder than ever, but they’re struggling to get by because they’re facing out of control costs and an economy that is stacked against them — so we need big ideas to start making the American Dream possible for everyone again,” Booker wrote in a statement unveiling his bill. “No income tax on the first $75,000 families earn would be a game changer for working people.”

“This tax cut would immediately put more money in your pocket every month to deal with the high price of everyday expenses, an unexpected emergency, or to plan for the future,” he added.

THUNE PROMISES ‘SAFE STREETS, MORE MONEY IN POCKETS’ AS GOP SENATORS HIT THE ROAD TO TOUT TAX CUTS

Booker, who has been rumored to be considering a 2028 presidential run, noted the pay-for in his bill would fully offset costs by generating more tax revenue from corporations and wealthy individuals. The plan includes raising the corporate tax rate, increasing taxes on stock buybacks, tightening executive compensation deductions and strengthening corporate tax enforcement.

“This plan can be fully paid for by unrigging our tax system – so that the wealthiest few and the biggest corporations that are getting rich by keeping prices high finally start paying their fair share,” Booker’s statement added. “This idea will ensure Americans who work for a living keep more of their paychecks, help restore tax fairness, and start making America a country where working people can get ahead again.”

The legislation also calls for expanding the Child Tax Credit to $3,600 per child ages 6 to 17 and $4,320 for children under 6, along with a $2,400 “baby bonus” in the year of a child’s birth. The credit would be fully refundable. In addition, the plan would expand the Earned Income Tax Credit by tripling its value and broadening eligibility to include workers ages 19 to 24 and 65 and older without children at home.

5 PIVOTAL 2026 SENATE RACES WILL DETERMINE WHETHER REPUBLICANS MAINTAIN GOVERNING TRIFECTA UNDER TRUMP

Booker also launched an online calculator to allow individuals to estimate their potential tax savings under the proposal.

The senator has previously championed expansions of the Child Tax Credit and Earned Income Tax Credit, including provisions enacted temporarily under the 2021 American Rescue Plan, which studies found significantly reduced child poverty.

While Booker is in an election year, Cook Political Report has his New Jersey Senate seat as safe, rating it as one of the nine solid Democrat Senate seats on the 2026 midterm map. Republicans narrowly hold the Senate majority going into the midterms with 53 seats to 45 Democrats and two independents that caucus with them.

Democrats’ designs on flipping the Senate will come in battleground races in Alaska, Georgia, Maine, Michigan and Ohio. While Republicans could potentially target a “lean Democrat” seat in New Hampshire, where former Sen. John E. Sununu, R-N.H., has announced a run.

The New Jersey deadline for filing for the Senate primary is March 23. The primary is June 2.

The top Republican names in New Jersey include former New Jersey State Trooper Richard Tabor and former reporter Alex Zdan.

Airfares could rise in the weeks ahead as the Iran conflict disrupts energy markets and squeezes jet-fuel supplies, increasing costs for airlines and passengers.

Fuel traders are watching the Strait of Hormuz closely, because disruptions from U.S.-Israeli strikes and retaliatory Iranian drone and missile attacks could quickly ripple through global oil and gas flows.

Just about 21 miles wide at its narrowest, the Strait of Hormuz, between Iran and Oman, is a global energy choke point. Roughly 20 million barrels of oil move through the waterway each day, along with about one-fifth of global liquefied natural gas (LNG), making it a high value target when regional tensions flare.

THE UNLIKELY TOOL TRUMP IS EYEING TO TACKLE RISING OIL PRICES AMID THE IRAN CONFLICT

When that energy bottleneck tightens, crude and refined fuel markets can jump. Jet fuel is typically one of airlines’ biggest operating costs, so even a modest spike can ripple into ticket prices and fees.

Jaime Brito, an energy market analyst, said distributors and airlines value supply security enough to pay a premium, so jet fuel is typically bought in advance through long-term contracts. 

Jet fuel can be especially vulnerable to disruptions since inventories are typically thinner and storage requires specialized tanks. Unlike gasoline or diesel, there’s very little spot buying in jet fuel markets, which can amplify price swings when supply gets tight.

WATCH SHIPPING THROUGH THE STRAIT OF HORMUZ GRIND TO A HALT AMID IRAN CONFLICT

That vulnerability is especially relevant now because a sizable share of global jet fuel supply comes from the Middle East.

“According to our estimates, the Middle East exports a total of around 1.1 million barrels per day of aviation jet fuel, about 17% of what the world consumes,” explained Brito, executive director of refining and oil products at OPIS.

In the U.S., the Argus U.S. Jet Fuel Index, a daily benchmark averaging prices in Chicago, Houston, Los Angeles and New York, climbed to $3.88 a gallon on Friday, after hovering mostly in the low-to-mid $2 range for weeks.

NEW SATELLITE IMAGES SHOW FIRES, NAVAL BASE DAMAGE ACROSS IRAN AFTER US-ISRAELI STRIKES

Brito said that some airports have proportionately higher jet fuel consumption, pointing to Singapore and Frankfurt, so concentration and distance from suppliers create an additional layer of market jitters that is reflected in current prices.

Market anxiety is already showing up in Singapore, Asia’s key trading hub, where jet fuel surged 72% to a record $225.44 a barrel on Wednesday as traders worried about future supplies tied to the Strait of Hormuz.

But even if tensions ease in the coming weeks and shipping lanes remain open, fuel contracts, shipping schedules and inventory constraints can keep the disruption, and its price impact, embedded in the supply chain.

How much passengers pay will depend on how long the disruption lasts and how much fuel carriers have already locked in through hedging.

The Department of Homeland Security blamed Democrats for travelers facing long security lines amid a DHS funding lapse.

“Americans are now enduring the severe fallout from the Democrat shutdown of DHS. Today, travelers are facing TSA lines of up to nearly 3 hours long at some major airports causing missed flights and massive delays during peak travel,” DHS deputy assistant secretary for public affairs Lauren Bis said in a statement, according to Transportation Security Administration posts Sunday on X.

“This chaos is a direct result of Democrats and their refusal to fund DHS. These political stunts force patriotic TSA officers, who protect our skies from serious threats, to work without pay,” the statement asserted. “These frontline heroes received only partial paychecks earlier this month and now face their first full missed paycheck, leading to financial hardship, absences, and crippling staffing shortages.”

TSA WORKERS BRACE FOR MISSED PAYCHECKS AS DEMOCRATS HOLD FIRM ON DHS FUNDING

Bis called upon Democrats to fund the department.

“Democrats are shamelessly playing politics with national security, punishing hardworking TSA workers and their families. Enough is enough: stop holding national security and everyday Americans hostage. Democrats must fund DHS now,” she declared.

NOEM THANKS TRUMP FOR NEW SHIELD OF THE AMERICAS SPECIAL ENVOY ROLE AFTER DHS OUSTER

DHS hammered Democrats over the issue on X.

“SPRING BREAK UNDER SIEGE,” a post declared. “The Democrats’ DHS shutdown has led to HOURS long security lines at airports across the country, leading Americans to miss their spring break flights.”

“There is ZERO reason for spring break travel to be held hostage for political points — Democrats must end this DHS shutdown NOW,” the post added. 

KRISTI NOEM OUSTED FROM HOMELAND SECURITY POST AMID RECENT TURMOIL

President Donald Trump announced last week that he is tapping Sen. Markwayne Mullin, R-Okla., for the role of Homeland Security secretary, and that current DHS Secretary Kristi Noem will instead serve as special envoy for an initiative called “Shield of the Americas.”

The U.S. Small Business Administration (SBA) announced a new policy that would ban foreign nationals and non-citizens from accessing its loan services — a continuation of efforts to refocus federal resources to ventures that align with American prioritization.

“The Trump SBA is committed to driving economic growth and job creation for American citizens,” SBA Administrator Kelly Loeffler said in a statement on Friday.

The requirement will apply to its Surety Bond and Microloan programs and is an expansion of changes made in February to the SBA’s 504 and 7(a) programs — loans for small businesses looking to finance working capital, equipment or acquisitions. Those earlier reforms prohibited SBA loans from going to businesses that are partially or wholly owned by foreign nationals.

SMALL BUSINESS ADMINISTRATION UNVEILS NEW INITIATIVE TO ROLL BACK FEDERAL REGULATIONS

The Surety Bond helps new or inexperienced contractors bid for government jobs that require bonding. Similarly, The Microloan program looks to offer small businesses loans of up to $50,000 through approved third-party intermediaries.

“Last month, we made it clear that SBA would not allow foreign nationals to access our core small business loan programs – and today, we are expanding that policy to include all SBA-guaranteed loans,” Loeffler said.

SBA’s announcement comes on the heels of other, broader changes the agency has made to re-center its investments on U.S. citizens. In 2025, SBA began requiring citizenship verification across its loan programs and announced that it would move its offices out of so-called sanctuary cities, areas where local governments have instructed law enforcement not to cooperate with President Donald Trump’s federal immigration enforcement efforts.

According to data from the SBA, the agency has 3,300 loans on the books for small businesses partially owned by lawful permanent residents, largely under the Biden administration. That figure represents 4% of the agency’s total loans — currently at 85,000.

SBA framed its policy change as a way to protect its limited resources and loan capital.

“With our lending authority capped annually by Congress and amid record demand for access to capital, our responsibility is clear: the limited resource of SBA financing must prioritize American citizens who are building businesses and creating jobs here at home,” Loeffler said.

The expanded policy will go into effect 30 days after the agency’s announcement.

EXCLUSIVE: For decades, curing cancer has been medicine’s holy grail. Now economists say it could also be the ultimate economic jackpot, delivering an estimated $185 trillion to the U.S. economy.

At a time when policymakers are weighing the cost of medical research against ballooning federal deficits, the report argues that curing cancer would pay for itself many times over.

The report, released by Unleash Prosperity, a free-market policy group, finds that eliminating cancer mortality would not only save millions of lives — it would dramatically strengthen the economy through longer lifespans, increased workforce participation and higher tax revenues.

NEARLY 40% OF CANCERS CAN BE PREVENTED WITH 3 LIFESTYLE CHANGES, STUDY FINDS

The stakes are enormous. 

Between 2030 and 2064, researchers project that roughly 30.7 million Americans will die from cancer under the current trajectory — losses that would carry not only a profound human toll, but a sweeping economic cost.

The research, conducted by economists Steve Moore and Tomas Philipson, estimates that fully eliminating cancer mortality would generate $185 trillion in total economic benefits over 35 years.

That translates to roughly $15,000 per American per year, or about $39,000 annually for the average household — gains driven by longer lifespans, stronger workforce participation and expanded economic output.

DEADLY CANCER RISK SPIKES WITH CERTAIN LEVEL OF ALCOHOL CONSUMPTION, STUDY FINDS

Even short of a cure, the economic upside remains substantial. Recognizing that a complete cure may not be immediately achievable, the study models a more realistic scenario in which cancer deaths are reduced by 80% over two decades. 

Under that scenario, the projected gains would still total nearly $130 trillion — roughly 70% of the value of full elimination — amounting to about $10,500 per person per year.

Moore said reducing cancer deaths could boost productivity enough to meaningfully accelerate U.S. economic growth.

“If we could substantially reduce cancer deaths, the payoff would be as large as just about anything you can imagine,” Moore told Fox News Digital.

“Right now, our economy has been growing at about 3%. We could probably increase that rate by a full percentage point, which would have enormous implications for our debt and deficit. This would increase Americans’ health and our wealth, and it ought to be one of the top national priorities for our country,” he added.

As researchers push ahead with new therapies and early detection tools, the report suggests the question is no longer whether progress is possible, but how quickly it can be accelerated.

Read the full Unleash Prosperity report here. 

The Pentagon on Sunday announced that U.S. forces have carried out a lethal strike on a vessel allegedly carrying suspected narco-traffickers in the Eastern Pacific, killing six people on board.

The U.S. Southern Command said it conducted “a lethal kinetic strike on a vessel operated by Designated Terrorist Organizations” at the direction of the new leader of the Southern Command, Gen. Francis L. Donovan of the Marine Corps, who took over in January.

“Intelligence confirmed the vessel was transiting along known narco-trafficking routes in the Eastern Pacific and was engaged in narco-trafficking operations,” the Southern Command said in a press release.

NEW LAWSUIT PRESSES PENTAGON, STATE DEPT TO DISCLOSE LEGAL JUSTIFICATION FOR VENEZUELAN BOAT STRIKES

Six men on the ship were killed but no U.S. forces died in the attack on the vessel, according to the Southern Command.

The latest strike brings the death toll in the Trump administration’s attacks on ships carrying people it accuses of drug smuggling to at least 156, according to The New York Times.

This was the 45th strike since the U.S. began targeting boats in the Caribbean and the Eastern Pacific in early September and comes amid a recent increase in the pace of strikes, the newspaper reported.

BIPARTISAN PUSH GROWS IN SENATE TO FORCE RELEASE OF UNEDITED CARIBBEAN STRIKE FOOTAGE

The attack on Sunday was one of the deadliest boat strikes the military has conducted in recent weeks.

“Going on offense with Operation Southern Spear has restored deterrence against the narco-terrorist cartels that profited from poisoning Americans,” Pentagon chief Pete Hegseth said last week. “Last month, we went a few weeks without targeting a single boat. Why? Well, because we couldn’t find a whole lot of boats to sink, and that’s the whole point is to establish deterrence from narco-terrorists who have been able to traffic almost unfettered.”

The Pentagon has refused to release the identities of those killed in the strikes since last fall or provide evidence of drugs on board.

The administration has been scrutinized in recent months over the strikes, including by Sen. Rand Paul, R-Ky., who has raised concerns about killing people without due process and the possibility of killing innocent people.

“I look at my colleagues who say they’re pro-life, and they value God’s inspiration in life, but they don’t give a s‑‑- about these people in the boats,” Paul said in January. “Are they terrible people in the boats? I don’t know. They’re probably poor people in Venezuela and Colombia.”

The senator previously cited Coast Guard statistics that show a significant percentage of boats boarded on suspicion of drug trafficking are innocent.

Fresh satellite images give a rare aerial view of the damage across Iran after U.S.-Israeli strikes and what Tehran’s retaliation left behind across the region.

Planet Labs satellite imagery captured burning ships and damaged facilities at the Konarak base in southern Iran, as well as significant destruction at Iran’s naval headquarters in Bandar Abbas on the Persian Gulf, reflecting the scale of the strikes on military infrastructure.

WATCH SHIPPING THROUGH THE STRAIT OF HORMUZ GRIND TO A HALT AMID IRAN CONFLICT

Imagery from Vantor shows damage to facilities and vessels located in Iran’s Bushehr port in the Persian Gulf.

In addition to naval assets, satellite photos show a bunker at Bushehr air base hit by a strike, leaving a large crater and destroying several nearby small buildings.

More strikes targeted the Choqa Balk drone facility in western Iran.

Radar systems at the Zahedan air base in eastern Iran — near the country’s borders with Pakistan and Afghanistan — were also struck.

The two facilities are about 800 to 900 miles apart, underscoring the broad reach of the coordinated strikes.

Satellite imagery also reveals damage to aircraft on the tarmac at Shiraz air base, including scorch marks and debris around several parking areas.

Satellite imagery from Planet Labs shows thick smoke plumes rising above Tehran, signaling explosions and fires inside the Iranian capital.

The smoke underscores how the conflict has moved beyond isolated military sites and into the heart of Iran’s political center.

THE UNLIKELY TOOL TRUMP IS EYEING TO TACKLE RISING OIL PRICES AMID THE IRAN CONFLICT

Iran has since responded with missile and drone strikes of its own, expanding the conflict across the region. 

Satellite images reveal damage to the port city of Sharjah in the United Arab Emirates. Sharjah is the third most populous after Dubai and Abu Dhabi.

The Jebel Ali Port, the region’s largest maritime hub, was also targeted, underscoring how the retaliation extended beyond military sites to key infrastructure.

The new satellite imagery comes on the heels of U.S.-Israeli strikes that killed Iran’s supreme leader, Ayatollah Ali Khamenei, and several top members of the regime, triggering a succession crisis.

President Donald Trump warned on Sunday that Iran’s new leader is “not going to last long” without U.S. approval as Operation Epic Fury marches into a third week. 

President Donald Trump said Sunday that Iran’s new leader is “not going to last long” without U.S. approval as Operation Epic Fury continues into its second week.

“He’s going to have to get approval from us,” Trump told ABC News in an interview. “If he doesn’t get approval from us he’s not going to last long. We want to make sure that we don’t have to go back every 10 years, when you don’t have a president like me that’s not going to do it.”

“I don’t want people to have to go back in five years and have to do the same thing again or worse let them have a nuclear weapon,” the president continued.

Trump’s comments come after Iranian state media reported that a majority consensus had been reached on a new supreme leader following the Feb. 28 assassination of Ayatollah Ali Khamenei.

IRAN’S SENIOR CLERICS ‘EXPOSED’ AFTER BUILDING STRIKE IN QOM, SUCCESSION CHOICE LOOMS

Mohammadmehdi Mirbaqeri, who serves on Iran’s Assembly of Experts, the clerical body tasked with selecting the supreme leader, did not offer any names but acknowledged to the Mehr News Agency that there are still “some obstacles.”

ABC News reported that Trump said it’s possible he would be in favor of someone with ties to the old regime.

“I would, in order to choose a good leader I would, yeah, I would. There are numerous people that could qualify,” he said.

ISRAEL HAMMERS IRANIAN INTERNAL SECURITY COMMAND CENTERS TO OPEN DOOR TO UPRISING

The Associated Press reported that several figures are being viewed as potential successors to Iran’s supreme leadership. They include:

IRAN POSTPONES TEHRAN FAREWELL CEREMONY FOR KHAMENEI WHERE LARGE CROWDS WERE EXPECTED TO GATHER

Israel’s Defense Minister Israel Katz warned Iranian leadership in a post on X last week that any successor who tries to “destroy Israel, to threaten the United States and the free world and the countries of the region, and to suppress the Iranian people” will be an “unequivocal target for elimination.”

“It does not matter what his name is or the place where he hides,” Katz said.

The new battleground in the Gulf isn’t just on the water — it’s in the insurance market, where war-risk coverage can determine which oil tankers sail and which stay put.

With the conflict driving gasoline prices higher, the White House is weighing steps to keep oil flowing through the Strait of Hormuz and to keep prices from climbing further.

The Strait of Hormuz, a narrow passage between Iran and Oman, carries roughly 20 million barrels of oil a day and about one-fifth of global supply of liquefied natural gas. When conflict flares in the region, even the threat of disruption can rattle markets because so much of the world’s energy moves through that single corridor.

WATCH SHIPPING THROUGH THE STRAIT OF HORMUZ GRIND TO A HALT AMID IRAN CONFLICT

And with so much at stake, the White House is turning to an unlikely tool: insurance.

President Donald Trump said the U.S. could use a government-backed insurance program to lower war-risk premiums for vessels in the region. Under a backstop, the government would absorb part of any major losses, easing pressure on private insurers and shipowners.

Because when danger rises, the bill rises.

Insurers charge more to cover ships and cargo, shippers add “war-risk” surcharges and some vessels slow down, detour or pause altogether. Those delays can tighten supply and push crude prices higher even if oil production hasn’t changed.

Against that backdrop, the latest disruption, sparked by U.S.-Israeli strikes on Feb. 27 and retaliatory Iranian drone and missile attacks across the region, is forcing shippers and insurers to rethink whether it’s safe to transit the waterway. 

NEW SATELLITE IMAGES SHOW FIRES, NAVAL BASE DAMAGE ACROSS IRAN AFTER US-ISRAELI STRIKES

Some global insurers are already tightening terms. Maritime insurance titans Gard, Skuld, NorthStandard, the London P&I Club and the American Club, have already canceled war-risk coverage, leaving voyages through Iranian and nearby waters without insurance.

Not all coverage is disappearing though. Lloyd’s of London, an insurance marketplace that brings together multiple insurers to cover large, high-risk voyages, said its vessels operating in the Gulf region have a combined hull value exceeding $25 billion. It added that coverage is still in place.

A Lloyd’s spokesperson told Reuters the market is in talks with U.S. officials about possible options. Separately, global insurance broker Marsh said it met with Trump administration representatives to discuss the idea.

Matt Smith, an analyst at Kpler, said coverage is a baseline requirement for ships transiting the Strait of Hormuz, but it doesn’t eliminate the risk. 

“It’s essential for all of these tankers to have insurance. You simply cannot pass through the Strait of Hormuz if you don’t have the insurance, given the high possibility of getting struck by a missile,” Smith told Fox News Digital.

“But even with that insurance in place, it’s little comfort for those on the ship if there’s a chance the vessel is going to be attacked,” he added.

With that calculus in mind, Maersk, widely regarded as a bellwether for global ocean freight, said it will suspend all vessel crossings through the Strait of Hormuz until further notice and warned service to Arabian Gulf ports could be delayed.

When big shippers hit the brakes, the ripple effects can be felt fast. If oil becomes more expensive or slower to reach buyers, those increases can move through the supply chain and show up for Americans at the pump.

How much Americans feel at the pump will depend on how long the disruption lasts and whether shipping and insurance markets stabilize. Until then, the world’s most important energy chokepoint is likely to keep traders and drivers on edge.