Oil prices climbed again overnight as the war in Iran enters its 13th day

Oil prices climbed again overnight as the war in Iran enters its 13th day.

But President Trump said last night that oil prices will come down after an international group announced historic plans to release some of its oil stockpile: "The International Energy Agency agreed to coordinate the release of a record 400 million barrels of oil from various national petroleum reserves around the world, which will substantially reduce the oil prices as we end  this threat to America and this threat to the world."

AAA says gas prices in the U.S. hit an average of $3.60 a gallon overnight — 60 cents higher than before the war started two weeks ago. President Trump says 172 million barrels of the IEA’s stockpile will come from the U.S. Strategic Petroleum Reserve — but the world consumes that much oil every two days.

There were fresh attacks on commercial shipping in the Persian Gulf region today, including attacks on two oil tankers near Iraq’s southern ports, the first such strike in Iraqi waters.

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