Oil Hits $100 a Barrel as Iran War Rages, Trump Says U.S. Will "Make a Lot of Money"

As the U.S.-Israel war on Iran entered its 13th day, oil prices surged more than 9% to $100 a barrel, with two crude tankers ablaze in an Iraqi port after suspected Iranian explosive-laden boat strikes. Over 30 International Energy Agency member countries, including the U.S., announced a record release of 400 million barrels from global reserves, yet gasoline prices continued rising. The Trump administration is also considering temporarily waiving the Jones Act to allow foreign ships to carry fuel between U.S. ports to ease costs. President Trump wrote on social media that the U.S., as the world's largest oil producer, stands to "make a lot of money" from rising prices, drawing sharp criticism from Democratic lawmakers who argued working Americans were suffering. Energy Secretary Chris Wright called $200-per-barrel oil "unlikely" but acknowledged the disruption could last weeks.