INDIANAPOLIS (WISH) — Here’s a look at Monday’s business headlines with Jane King, who has the latest on oil prices, online scam losses, and which spirit is seeing sliding U.S. sales.

Investors monitoring oil prices amid conflict

Investors are monitoring oil prices and the latest developments from the conflict in Iran.

President Donald Trump ordered on Friday strikes on Iran’s military assets located on Kharg Island. While the attack didn’t impact oil infrastructure, Trump said the U.S. would consider hitting those structures if Iran continues to block the Strait of Hormuz.

Energy Secretary: Gas prices could drop by summer

U.S. Energy Secretary Chris Wright said Sunday that there’s “a very good chance” gas prices could drop below $3 per gallon by summer, predicting that in “a few more weeks” the U.S. will have “removed the risk” of Iran’s continued threat to global energy supplies.

Asked Sunday whether the Strait of Hormuz is safe for ships right now, the energy secretary said, “No, no, it is not,” but added that making it safe for reopening is “one of the objectives at the end of this conflict.”

Airlines call for end to partial government shutdown

The CEOs of major U.S. airlines urged Congress on Sunday to move quickly to end a 29-day partial government shutdown.

The shutdown has forced 50,000 airport security officers to work without pay, with airline and industry leaders warning it could further disrupt us air travel.

The group of airline executives – which also includes senior executives at cargo carriers FedEx, UPS, and Atlas Air – called for legislation to ensure that all critical government aviation personnel, including TSA and air traffic controllers, are paid during future shutdowns.

Irish whiskey sales down in the US

Irish whiskey has long been a cornerstone of st. Patrick’s day celebrations, yet this special spirit is feeling the pinch in the U.S. market. Supplier sales are down nearly 8%, and the current 10% tariff is putting added pressure on the restaurants and bars at the heart of these celebrations.

Still, Irish whiskey has benefited from the spirits boom in recent years, generating $1.1 billion in revenue for distillers.

Indiana ranks 28th in online scam losses

The Consumer Federation of America says that $900 million was lost in the state, amounting to $129 per capita.

The study found that Facebook was the worst platform for online scams.

INDIANAPOLIS (WISH) — Indianapolis Metropolitan Police Department said a person was shot just before 9 p.m. Sunday in the 5900 block of East 82nd Street, near Castleton Square Mall.

Police arrived to find a person consistent with gunshot wounds. 

The victim was reported to be in critical condition and IMPD is actively investigating this incident.

This is a developing story.

Just weeks after Indianapolis was named America’s best city to buy a home, the state it sits in has been hit with an alarming distinction.

Indiana now has the highest foreclosure rate in the entire country. In February alone, the state recorded one foreclosure filing for every 1,597 housing units – more than double the national rate of one for every 3,701 homes.

The numbers reveal a stark contradiction: the same state touted as a prime opportunity for homebuyers is also seeing thousands of homeowners struggle to keep their properties. 

The ranking of America’s top housing markets came from Zillow, which weighed factors including home price trends, affordability, and projected market growth. Markets ranked highest are seeing prices steady for now – but with gains expected in coming months. 

Indiana topped the list, with typical homes around $283,040 and values set to rise about 2.9 percent this year. The market offers buyers a rare combination of affordability and future price gains.

In Indianapolis, the numbers appeared especially favorable. A typical buyer would need to spend only about 27 percent of their income on mortgage payments.

Indianapolis is widely seen as one of the Midwest’s most livable cities.

It is best known for hosting the legendary Indianapolis 500 — one of the world’s most famous auto races — and boasts a strong sports culture with teams including the Colts and Pacers.

The city stands out for its historic monuments, growing arts scene, and central location that’s earned it the nickname ‘Crossroads of America’

The city’s walkable downtown, expanding arts scene and central location — earning it the nickname the ‘Crossroads of America’ — have helped make it increasingly attractive to homebuyers.

But the foreclosure data suggests many existing homeowners are already struggling to keep up with rising housing costs.

Indianapolis – the state’s largest city – has been particularly hard hit. The metro recorded one foreclosure filing for every 1,249 homes in February, giving it the third-highest foreclosure rate in the nation.

Only Lakeland and Punta Gorda in Florida reported worse figures for metros. Both of which have faced persistently high foreclosure levels.

A foreclosure occurs when a homeowner can no longer keep up with mortgage payments, prompting the lender – usually a bank – to begin a legal process to recover the unpaid loan, often by repossessing and selling the home.

Experts say a combination of rising property taxes, higher insurance premiums and the cost of maintaining aging homes is putting pressure on many Indiana homeowners.

Those financial strains are being worsened by slow wage growth in parts of the state. 

The surge in distressed properties can have wider consequences for communities. When banks repossess homes and sell them at discounted prices, it can drag down surrounding property values and erode the equity of nearby homeowners who have kept up with their payments.

The city of Indianapolis had one of the highest foreclosure rates in the country in February, and its home state of Indiana saw the highest rate overall 

As banks seize more homes and flood the market with discounted properties, surrounding home values drop, eroding equity for nearby homeowners who have kept up with their payments

Indiana’s housing stress comes amid a broader rise in foreclosures across the United States.

In February, foreclosure activity across the country reached 38,840 properties – a 20 percent increase compared with the same month last year. 

Filings track the full spectrum of the process, from initial lender warnings to the formal repossession of homes after missed mortgage payments.

Although the February total was slightly lower than January, it marked the twelfth straight month of year-over-year increases, showing how Americans are increasingly struggling to pay their bills. 

‘Foreclosure activity in February marked the twelfth consecutive month of annual increases, extending a gradual upward trend that began early last year,’ said Rob Barber, chief executive of ATTOM.

Foreclosure starts – when lenders officially begin reclaiming a property – have climbed 14 percent from last year, while completed repossessions have jumped 35 percent.