Why oil prices could go up faster than when Iran war first broke out if renewed fighting lasts long

Oil prices rose more than 7% to a two-week high after President Trump declared the Iran ceasefire over. Joseph Majkut, director of the Energy Security and Climate Change Program at the Center for Strategic and International Studies, joins with analysis. CBS News 24/7 is the premier anchored streaming news service from CBS News and Stations that is available free to everyone with access to the internet and is the destination for breaking news, live events, original reporting and storytelling, and programs from CBS News and Stations' top anchors and correspondents working locally, nationally and around the globe. It is available on more than 30 platforms across mobile, desktop and connected TVs for free, as well as CBSNews.com and Paramount+ and live in 91 countries. Subscribe to the CBS News YouTube channel:    / cbsnews   Watch CBS News 24/7: https://cbsnews.com/live/ Download the CBS News app: https://cbsnews.com/mobile/ Follow CBS News on Instagram:   / cbsnews   Like CBS News on Facebook:   / cbsnews   Follow CBS News on X:   / cbsnews   Subscribe to our newsletters: https://cbsnews.com/newsletters/ Try Paramount+ free: https://paramountplus.com/?ftag=PPM-0... For video licensing inquiries, contact: [email protected]