Irish whiskey sales sink the US

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.