Two days later, on June 24, CNN reporters Anna Cooban, John Liu and John Towfighi released a story that nuked their colleague’s entire pearl-clutching spin to smithereens: “Oil is falling so much it’s now cheaper than it was before the Iran-Israel conflict.” In fact, the reporters noted that “Brent crude, the global oil benchmark, fell 6.1% to $67.14 a barrel. Bacon theorized that the direction of oil prices would likely be determined by whether the Iranian parliament moves to block the Strait of Hormuz, which she wrote “accounts for about 20% of the world’s crude oil.” Despite Politico coming out with another piece published at virtually the same time as Bacon’s affirming that Iran’s parliament had indeed voted to attempt to close the Strait, the news wasn’t enough to rattle markets like the End of Days had arrived. Bacon was sure to argue that “American consumers may soon feel a price shock at the pump.” As of today, following Trump’s announcement that the U.S. had reached a negotiated peace between Israel and Iran and three days since her piece went live, gas prices now stand at $3.23 on average, which is around 24 cents less than it was a year ago ($3.47), according to AAA.
Author: Joseph Vazquez Mrc Business Associate Editor
Published at: 2025-06-25 21:57:15
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