World News Today Live Updates: Trump calls Iran conflict ‘small potatoes’ and defends Vance’s position that it’s not a ‘war’

Sep 5, 2026 05: 01 AM IST. US diesel rates hits record high at $5.85 a gallon.

Key points

• Brent crude futures additionally settled at $92.68 a barrel, up 76 cents, or 0.8 percent.
• The Treasury Department sanctioned a Turkish bank as part of "Operation Economic Outcast, " its push to cut off Iran's remaining financial lifelines.
• A gallon of diesel now costs $5.85 on average in the US, according to American Automobile Association data.
• US diesel rates climbed to a record $5.85 a gallon as the conflict disrupts global fuel supplies.
• The president remarked he understands why Vance called the fighting "intermittent" rather than a war, even as strikes continue.

Average US diesel rates have hit a record high against the backdrop of rose global supply disruptions due to the renewed fighting in the Middle East and Russia's war on Ukraine.

Meanwhile, a gallon of diesel now costs $5.85 on average in the US, according to American Automobile Association data.

In practice, the cost of diesel could rise even further due to the sharp drawdown in inventories and as agricultural states in various parts of the country head into harvesting and planting seasons.

Brent crude futures additionally settled at $92.68 a barrel, up 76 cents, or 0.8 percent. West Texas Intermediate crude futures finished at $91.48 a barrel, up 18 cents, or 0.20 percent.

As supply routes in the Middle East remain impaired due to the war, for the week, Brent crude rose 7.6 percent while US crude gained almost 10 percent. Sep 5, 2026 04: 53 AM IST.

US tightens economic squeeze on Iran after a week of renewed strikes.

For context, the Trump administration escalated its pressure campaign on Iran this week, pairing renewed sanctions with a resumption of strikes as the six-month-old conflict continues to strain the global economy and divide authorities over how to even describe the fighting.

New sanctions hit Iran's finances. The Treasury Department sanctioned a Turkish bank as part of "Operation Economic Outcast, " its push to cut off Iran's remaining financial lifelines.

Trump defends Vance's "not a war" stance. The president remarked he understands why Vance called the fighting "intermittent" rather than a war, even as strikes continue.

Fuel rates hit record highs. US diesel rates climbed to a record $5.85 a gallon as the conflict disrupts global fuel supplies. Sep 5, 2026 04: 51 AM IST. World News Live Blog.

Hello and welcome to our live blog, where we're tracking the biggest stories from worldwide as they develop. Today's coverage includes President Trump's remarks on the ongoing Iran conflict and a dramatic courtroom outcome in Massachusetts. Stick with us as we bring you updates throughout the day.

In short, world News Today Live Updates: Trump calls Iran conflict 'small potatoes' and is the central thread here, and readers can expect follow-up reporting as the picture becomes clearer.