Oil fell Friday after surging the previous day, as traders weighed Trump’s pledge not to attack Iran before the U.S. midterm elections against persistent shipping risks in the Persian Gulf and production shut-ins in the Gulf of Mexico.

Seven months into the Iran conflict, the oil market’s focus has shifted away from Trump’s rhetoric and on to physical supplies and cargo flows.

The price of oil on jumped sharply as President Donald Trump weighed whether to resume large-scale U.S. military operations in Iran during the coming weeks.

Industry groups representing energy marketers and truck stops are warning against Donald Trump’s plans to tackle soaring diesel prices caused by his war in Iran. During a campaign rally in Nebraska on Monday, Trump signed an executive order—brought to him by his favorite White House aide, Natalie Harp—allowing “red-dyed” diesel for highway use as a temporary move to lower diesel prices. Off-road “dyed” diesel is normally intended for...

PepsiCo Inc. lowered its profit outlook as the snacks and beverage company said its recovery in North America is taking longer than expected.

PepsiCo plans to raise prices on some snacks and drinks and slash corporate costs after a disappointing performance in North America during the third quarter.

Pepsi's North American business continues to lag behind its international markets.

PepsiCo warned on Thursday that growth and margin recovery in its key North American market was taking longer than planned and said it would pursue additional cost cuts to offset sluggish demand for its snacks and beverages.