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US-Iran conflict leads to soaring oil prices, lands Americans in distress

China

China

China

US-Iran conflict leads to soaring oil prices, lands Americans in distress

2026-03-26 15:46 Last Updated At:16:57

Since the United States and Israel attacked Iran at the end of February, wholesale oil and gas prices have soared, as missile strikes and drone attacks have caused energy production and transportation across the Middle East to slow down or grind to a complete halt.

CGTN stringer on Monday talked to several New York residents and asked them to talk about the impact of the increase in oil prices on their lives.

"It's just more expensive than it was last time I filled up," said Paul Willes, who is a doctor.

"I have noticed a change since the last time I filled up and when I filled my car up last time, it was kind of knowing that this might happen. So right now I have three quarters of a tank, so I don't think I'm going to have to fill up anytime soon because I don't drive a lot," said a nurse named Pat Stevens.

"I'm pretty sure it's going to go up. Because what's going on with the war and things like that, so definitely see something happening," said a security guard named Neville Brown.

"Because I'm a driver myself. I do own a vehicle and the price of gas has gone up almost a dollar between November to now," said Micha Ashasha, who drives for a living.

The interviewees also said they have to change how they commute day to day given the rising gasoline prices.

"If I can't charge people more money to ride with me, I'm going to have to find me another job. Because the gas is too expensive and people are already complaining about the cab prices, as drivers complaining about the gas prices," said taxi driver Malik Jhonson.

"We have to cut down the budget because we don't have extra money for the gas," said another taxi driver Ramesh Ali.

"I try to drive more cautiously. Think about where I'm going before going. No more joyrides," Brown said.

US-Iran conflict leads to soaring oil prices, lands Americans in distress

US-Iran conflict leads to soaring oil prices, lands Americans in distress

US-Iran conflict leads to soaring oil prices, lands Americans in distress

US-Iran conflict leads to soaring oil prices, lands Americans in distress

China's machinery sector showed steady, positive performance in the first two months of this year, with growth in both production and market demand, said the China Machinery Industry Federation (CMIF) on Wednesday.

The five major machinery subsectors all posted year-on-year gains in January-February period. Value added in general purpose machinery, special-purpose machinery, automotive manufacturing, electrical machinery and equipment, and instruments and meters rose 8.9 percent, 8.8 percent, 3.4 percent, 8.7 percent, and 7.8 percent, respectively.

It is notable that the equipment manufacturing sector showed strong growth, with value-added output rising 9.3 percent year on year, 3 percentage points faster than the growth rate of value-added output for all industrial enterprises above designated size in the first two months.

Xu Niansha, president of the CMIF, said that as the first year of the 15th Five-Year Plan, the year of 2026 will see the equipment manufacturing sector focus on intelligent, green and integrated development, aiming to build a modern industrial system anchored by advanced manufacturing.

"China will focus on three aspects in terms of the future development of equipment manufacturing. First, we will reinforce the reshaping of industrial foundations by addressing weaknesses in industrial machine tools, high-end chips, and foundational software. Second, we will boost research and development of major equipment, advancing flagship products such as high-end medical devices, precision instruments, and advanced agricultural machinery. Third, we will enhance quality and branding to improve international reputation of 'Made in China'," said Xu.

China's machinery industry posts steady growth in first two months

China's machinery industry posts steady growth in first two months

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