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Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer

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Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military

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Current price of oil as of June 10, 2026
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3 U.S. service members killed and 5 seriously wounded in Iran operation, after Trump warned of casualties

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Ben Finley
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The Associated Press
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By
Ben Finley
Ben Finley
and
The Associated Press
The Associated Press
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March 1, 2026, 3:26 PM ET
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People watch from a rooftop as a plume of smoke rises after a strike in Tehran, Iran, Sunday, March 1, 2026. AP Photo/Vahid Salemi

Three American service members have been killed and five others seriously wounded during the U.S. attacks on Iran, the military said Sunday, marking the first American casualties in a major offensive that has sparked retaliation from the Islamic Republic.

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U.S. Central Command, which oversees the Middle East, announced the deaths in a post on X but did not say when and where they occurred. The statement said “several others sustained minor shrapnel injuries and concussions” and were going to return to duty.

Central Command described the situation “as fluid” and said it would withhold the identities of the service members who were killed for 24 hours after their families were notified.

The U.S. military also denied Iranian claims that the USS Abraham Lincoln aircraft carrier was struck with ballistic missiles, saying on X that the “missiles launched didn’t even come close.”

President Donald Trump had warned that American troops could be killed or injured in the operation.

“The lives of courageous American heroes may be lost, and we may have casualties,” the Republican president said in a video address released early Saturday. “That often happens in war. But we’re doing this not for now. We’re doing this for the future.”

Following the U.S.-Israeli strikes that killed Iran’s supreme leader, Ayatollah Ali Khamenei, and other leaders, Iran’s counterattacks have struck U.S. bases in Bahrain and the United Arab Emirates.

Iran’s paramilitary Revolutionary Guard has threatened to launch its “most intense offensive operation” ever targeting Israeli and American military installations.

Before the strikes, Trump had built up the largest U.S. military presencein the Middle East in decades. The arrival of the Lincoln and three accompanying guided-missile destroyers at the end of January bolstered the number of warships in the region.

The world’s largest aircraft carrier, the USS Gerald R. Ford, and four accompanying destroyers later were dispatched from the Caribbean Seato head to the Middle East.

The Ford was part of the U.S. raid in Venezuela that captured leader Nicolás Maduro, who was brought to New York to face drug trafficking charges. The operation in January claimed no American lives but left seven U.S. troops with gunshot wounds and shrapnel-related injuries.

One of those injured received the Medal of Honor during Trump’s State of the Union address last week. Trump said Army Chief Warrant Officer 5 Eric Slover piloted the lead CH-47 Chinook helicopter that descended on the “heavily protected military fortress” where Maduro was staying.

Trump has launched several military operations during his second term, including strikes on members of the Islamic State group in Syria in retaliation for an ambush attack that killed two U.S. troops and an American civilian interpreter in December.

The U.S. military has also struck IS forces in Nigeria, after Trump accused the West African country’s government of failing to rein in the targeting of Christians.

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