US readies more Iran sanctions as Republicans defend higher fuel prices

The United States is preparing additional economic pressure on Iran as stalled negotiations over the Strait of Hormuz, repeated attacks on vessels near the waterway and renewed Israeli strikes in Lebanon keep oil and gas markets on edge. UK natural gas prices rose above 154 pence a therm to a three-week high, while U.S. gasoline held above $4 a gallon nationally, intensifying the domestic political debate over fuel costs. President Donald Trump said higher pump prices were acceptable if they supported efforts to denuclearize Iran, while GasBuddy estimated Americans are paying $338 million more for gasoline each day than a year ago, or $2.35 billion more each week.

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