- David Paul Morris/Bloomberg/Getty ImagesOil prices climbed Sunday after Tehran warned against a US ground invasion, despite President Donald Trump saying on Friday that negotiations would continue to end the war. Strikes targeting oil and gas facilities have also triggered higher gas prices. Smaller nations will be hit hardest — including countries in Asia — but rising oil prices will have a rippling effect across the global economy, Bob McNally, president of Rapidan Energy, told CNN on Sunday. In a worst-case scenario, surging oil prices could be ended by a recession, he added. Those gas prices will take time to fall once the war ends, experts warn.

Source: CNN March 30, 2026 09:04 UTC