Hormuz and energy prices IRINN’s economic feature

Sep 23

IRINN’s opening analysis links restricted Hormuz traffic to energy prices, citing Brent near $100, Kpler’s account of only three cargo ships passing on Tuesday, a Fox poll and Steve Hanke’s comments on diesel costs and voters. Later, it reports Brent, U.S. crude and gasoline prices, then airs Sanaz Pahani’s feature arguing the closure is putting pressure on Western economies. The package quotes U.S. fuel-price reporting, Macron discussing Europe’s costs, analysts warning about reserves and Blinken urging an end to the war. Price figures, quoted assessments and the broadcaster’s claim that Iran has neutralized sanctions remain reported figures and attributed interpretations.

IRINN’s September 23 price update gives Brent at $101.08 a barrel, up $2.53, and U.S. light crude at $92, up $1.48. It reports U.S. gasoline at $4.47 a gallon and California at $6.20, calling the latter a record. Its economic feature airs Fox describing diesel near $7 a gallon and European and U.S. assessments of continuing Hormuz disruption, including an attributed claim that U.S. strategic oil reserves are at their lowest since 1982. Its opening commentary puts Brent around $100 and links fuel costs to restricted shipping. These are the broadcasts’ observations and interpretations, not one shared settlement price or independently established price causation. Fox’s September 23 interview describes crude at roughly $92; the on-screen quote is $92.69, up $0.53. Its graphic gives national average regular gasoline at $4.47 and diesel at $6.52 per gallon. Bessent attributes energy inflation to an Iran-related supply shock, gives core inflation as 2.4%, and predicts lower energy prices after the conflict, citing added supply. Asked about household costs, he defends business activity, private jobs and real wages; his concluding figures are median wage growth of 3.5–3.7% and 1.3 million jobs for Americans. These figures and forecasts are his account. Fox’s panel distinguishes core inflation from the food and energy costs households feel and considers the political pressure of those costs. No price relief or end to the war is reported as having occurred.