U.S. investigates strike on Iranian school as the war sparks a global oil crisis

"In the last 24 hours, unknown attackers hit three commercial ships carrying oil in the Strait of Hormuz. The key passageway for the world's oil, which is one of the hot spots in the U.S. and Israel's war in the Middle East, is now effectively closed. President Trump is urging ships to keep using the route and is promising protection, but has offered very little detail on how that protection will work."

"Iran might keep the Strait of Hormuz closed to inflict as much economic pain as possible and deter future U.S. and Israeli attacks on them again. Yesterday, the International Energy Agency announced that member nations would release 400 million barrels from their strategic oil reserves. It's the largest crude oil release the IEA has ever coordinated."

"Former Trump economic adviser Stephen Moore tells NPR's Tamara Keith the president is betting that the conflict with Iran will be short, gas prices will soon drop and voters will forgive or forget. But rising fuel costs could make other essentials more expensive for consumers, which could become a political challenge for Republicans in the midterm elections, where affordability is a top issue."

Unknown attackers targeted three commercial oil ships in the Strait of Hormuz, a vital passageway for global oil supplies, effectively closing the route. Oil prices surged to $100 per barrel in response. President Trump urged continued use of the route and promised protection with minimal details. Iran may maintain the closure to inflict economic damage and deter future attacks. The International Energy Agency coordinated the largest crude oil reserve release in its history, with 172 million barrels coming from U.S. reserves over four months. Rising fuel costs threaten to increase prices for other essentials, creating political challenges for Republicans ahead of midterm elections where affordability is a key voter concern.

Read at www.npr.org