U.S. President Donald Trump expressed frustration on Thursday that oil prices have risen amid supply concerns from potential conflict in the Middle East. Both global and U.S. oil prices surged more than 4% on Wednesday to their highest levels since early April before easing a bit on Thursday.

A former White House official issued a chilling ultimatum to Donald Trump's administration as oil prices continue to rise in the US

Soybean oil rallied on the Trump administration’s proposal allowing oil refiners to blend more biofuels into gasoline and diesel next year.

A sustained surge in oil prices is likely to complicate the U.S. fight against inflation. A $10-a-barrel increase would boost year-over-year growth in the Consumer Price Index by 0.5 percentage points,

By Wayne Cole SYDNEY (Reuters) -Asian markets kept their nerve on Monday and oil prices climbed anew as the conflict between Israel and Iran showed no sign of cooling, adding geopolitical uncertainty to the world's economic troubles in a week packed with central bank meetings.

President Trump has been able to argue that falling energy prices early in his term show his economic policies aren’t stoking inflation, but rapid-fire developments in the Middle East could put that case in jeopardy.