US-Iran trade strikes in MAJOR ESCALATION

FOX Business correspondent Lauren Simonetti reports on the conflict in the Middle East as the U.S. and Iran traded strikes and the latest regarding oil prices on 'Varney & Co.' 00:00 - Regulatory constraints on autonomous vehicle production 00:09 - US and Iran trade strikes in major military escalation 00:38 - Kharg Island: Analyzing Iran's economic choke point 01:02 - How a US naval blockade impacts Iranian oil capacity 01:16 - Gasoline and US diesel prices surge Subscribe to Fox Business: https://bit.ly/2D9Cdse Watch more Fox Business Video: https://video.foxbusiness.com Watch Fox Business Network Live: http://www.foxnewsgo.com/ FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York — the business capital of the world — FBN launched in October 2007 and is one of the leading business networks on television. In 2025 it opened the year posting double-digit advantages across business day, market hours and total day viewers in January. Additionally, the network continued to lead business news programming, with each business day program placing among the top 15 shows, while FBN delivered its highest-rated month since April 2023 with market hours. Follow Fox Business on Facebook: https://www.facebook.com/FoxBusiness Follow Fox Business on Twitter: https://twitter.com/foxbusiness Follow Fox Business on Instagram: https://www.instagram.com/foxbusiness