If you ask energy historian Daniel Yergin, the Iran war "has been brewing for 47 years." The big picture: Surging oil and gas prices tied to Middle East tensions will hang over a Houston gathering next week that is one of the global energy industry's biggest annual events.

A US official confirmed that three more warships and roughly 2,500 more Marines are bound for the Middle East, where the US military says it has about 50,000 troops.

In mid-morning European trade, Brent crude climbed 10% to $118.50 a barrel and was up 65% on the month.

European Union leaders are convening for a summit in Brussels on Thursday to discuss ways to soften the impact of soaring energy prices fueled by the Iran war, but they're unlikely to reach a consensu...

Israeli military says strikes launched on targets in Tehran Iran strikes badly damage Qatar gas output

That’s a lot of crude: 140 million barrels worth, which is enough to satisfy the entire world’s oil demand for about one-and-a-half days, according to the US Energy Information Administration.