Morning Business Report: Oil prices could reach $120 as U.S.-Iran war escalates
The war between the United States and Iran has escalated, with U.S. forces targeting Iranian oil tankers, including a vessel near Kharg Island, home to Iran's main crude export terminal.
(LILAMAX)- The war between the United States and Iran has escalated, with U.S. forces targeting Iranian oil tankers, including a vessel near Kharg Island, home to Iran’s main crude export terminal.
The escalating conflict is raising concerns about global energy supplies and the possibility of another significant jump in oil prices.Goldman Sachs says oil could climb as high as $120 per barrel if attacks on shipping in the Middle East broaden and intensify.
Meanwhile, homeowners across the United States are facing significantly higher insurance costs. According to LendingTree’s 2026 State of Home Insurance report, home insurance rates nationwide increased nearly 47% between 2020 and 2025. Some states experienced even larger increases, driven in part by wildfires and severe weather. Consumers looking to reduce their premiums can regularly compare insurers and consider raising their deductible.
On Wall Street, the Dow fell 600 points as global risks rattled investors. Rising oil prices also fueled concerns about inflation.
A new survey also found many Americans are willing to pay more to live in neighborhoods with controlled or gated entrances. The survey of 1,000 U.S. adults by Tri State Gate found half would pay above market price for a home in such a neighborhood, while nearly a third would pay at least 6% more.While 69% said crime where they live has not gotten worse, 72% said they do not feel completely at ease in their homes.
And the Girl Scouts are introducing two new products, including its first allergy-friendly cookie, called Sparkables, and a dog treat called Patch Pals.
Girl Scout cookie season is nationally recognized from January through April, although exact dates vary by local council.
