Oil prices look set to rise on Monday after U.S. and ​Iranian trade threats to target energy facilities, analysts said.

Oil prices dipped Friday but remained well above $100, with energy infrastructure in the Middle East damaged and the vital Strait of Hormuz still largely shut.

With gas closing in on $4 a gallon, the Trump administration is pulling multiple levers to tame energy prices. The results have been mixed.

In a twist of wartime irony, the United States has moved to ease sanctions on Iranian oil to cool surging energy prices, a potential boon for Tehran.

India has kept retail fuel prices stable for now by relying on refinery absorption, strong inventories, and diversified crude supplies despite a sharp surge in its oil basket price.

Every 1-cent increase in gasoline prices reduces consumer spending by $1.5 billion annually, one economist says.

Another climb for oil prices shook stock markets, as hopes collapsed for a possible cut to interest rates this year by the Federal Reserve

Popular Florida family theme park closes down for new development The Strait of Hormuz crisis has driven oil prices to four-year highs, disrupting global energy supplies. Rising fuel and fertilizer costs are pushing gas and grocery prices significantly higher for consumers.