Financial Times Reports Iran Conflict Inflicted Severe Economic Blow on U.S.

According to the International Desk of Webangah News Agency, the Financial Times, citing experts, has reported that the conflict with Iran has inflicted a heavy blow on the U.S. economy, diminishing its prominent energy sector standing.

Data released by the Mehr News Agency indicates that the U.S. Energy Information Administration has stated that oil production growth in the country is not exceeding 200,000 barrels per day.

The report notes that the administration, similar to other governments, is not paying adequate attention to energy-related issues and lacks sufficient understanding in this domain. The consequences of the Iran conflict are evident in U.S. fuel prices, with gasoline costs experiencing a 40 percent increase. The average price of diesel fuel during the Trump presidency has surpassed levels recorded during Joe Biden’s presidency.

Annual inflation for U.S. consumers has risen above four percent, marking the highest level in three years. American citizens’ confidence has severely declined due to the conflict in the Middle East, and dissatisfaction with the country’s economic situation has intensified during the Trump administration.