President Donald Trump dismissed concerns about soaring oil prices, saying it was only a short-term issue and a “small price to pay” for the destruction of Iran’s “nuclear threat.”

While Iran's oil production is estimated to be less than 5% of global output — most of which goes to China because of U.S. sanctions — it has major influence over the Strait of Hormuz, a critical passageway for more than 20% of the world's daily oil demand.

Gas prices rose and the stock market took a hit as the U.S. feels impacts of continued Middle Eastern conflict.

Rising oil prices, part of the fallout of the conflict with Iran, are shaking global stock markets and pushing gas prices toward $4 a gallon.

Oil prices are up and stock prices are down, as financial markets react to the U.S. war with Iran.

The president called rising oil prices short-term and "small" prices to pay in a March 8 post. Those who think otherwise, he wrote, are "fools."

Learn how to pick the right natural gas investments. In their rise as an alternative to oil, natural gas stocks have made millionaires and demand continues to grow.

Gas has gone past the $5 mark for the first time in all three Central Coast counties in more than a year, according to AAA.

U.S. ⁠President ⁠Donald Trump praised ⁠Italian Prime Minister Giorgia Meloni ​and said she was willing to help ‌the United States ‌and Israel in their war ⁠with ⁠Iran, Italy’s Corriere della Sera reported on Sunday.