President Donald Trump is weighing whether the United States should attack Iran, a country that controls both the third-largest proven oil reserves on Earth and one of the world’s most important oil shipping lanes. The consequences for oil prices and Americans’ wallets could be swift and severe.
The United States has been building up its military presence in the Middle East in recent weeks, and Trump has suggested a US-led strike could be imminent. That’s sent oil prices up sharply.
“We may have to take it a step further, or we may not,” Trump said Thursday about Iran. “Maybe we’re going to make a deal.