Trump ends Iran ceasefire. How is it affecting gas prices?

After President Trump signed the Memorandum of Understanding with Iran on June 18, oil prices tumbled, sinking below pre-war levels by last week. But three weeks of a partially reopened strait wasn’t enough time to overcome the biggest oil supply shock the world has ever seen. It didn’t offer sufficient time to refill the emergency and commercial stockpiles that the United States needs to supply itself with fuel – and avoid the looming “economic catastrophe” that Trump feared would earn him comparisons to Depression-era President Herbert Hoover. 0:00 Trump declared the ceasefire "over." How will this affect oil prices? 2:22 How are the US's oil reserves? 3:28 Gas futures spike 6%: oil analyst Rory Johnston 5:30 How will a US blockade of Iranian oil traffic move the markets? 7:33 President Trump's comments on US oil production levels Watch 24/7 live news with CNN Headlines: https://bit.ly/4eIvlTr #OilPrices #IranWar #News