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An extra 400 million barrels of oil are being released from emergency stockpiles

By Mark Huffman of ConsumerAffairs

• IEA members agree to release 400 million barrels of oil from emergency reserves to stabilize markets disrupted by the Middle East war.

• Conflict has slashed oil shipments through the Strait of Hormuz to under 10% of normal levels, threatening a major share of global supply.

• The coordinated move is the sixth emergency release in the IEAs history, reflecting what officials call unprecedented market disruption.

Gas prices continue to surge due to the Iran war, but relief may be on the way. The 32 member nations of the International Energy Agency (IEA) have agreed to release 400 million barrels of oil from emergency reserves in a coordinated effort to stabilize global energy markets following supply disruptions.

The decision was reached after an extraordinary meeting of IEA member governments, convened by Executive Director Fatih Birol to assess the impact of the conflict and determine how best to respond to growing supply risks.

The oil market challenges we are facing are unprecedented in scale, Birol said in a statement. I am very glad that IEA member countries have responded with an emergency collective action of unprecedented size. Oil markets are global, so the response to major disruptions needs to be global too.

The emergency stocks will be released over a timeline determined by each member countrys national circumstances. Some countries are also expected to introduce additional measures to reinforce the effort.

More than 1 billion barrels available

IEA member nations collectively hold more than 1.2 billion barrels in emergency stockpiles, along with an additional 600 million barrels in industry reserves maintained under government mandates. The coordinated release represents the sixth emergency action in the agencys history, which dates back to its founding in 1974 in response to earlier energy crises. Previous coordinated releases occurred in 1991, 2005, 2011, and twice in 2022.

The war that began at the end of February has severely disrupted oil shipments through the Strait of Hormuz, one of the worlds most critical energy chokepoints. According to the IEA, exports of crude oil and refined products through the strait have dropped to less than 10% of pre-conflict levels, forcing some regional producers to shut in or sharply reduce output.

The disruption is significant because the Strait of Hormuz carried about 20 million barrels per day of oil and petroleum products in 2025, representing roughly one-quarter of global seaborne oil trade. Alternatives for routing oil around the strait are limited, making the passage vital to global energy supply.

The IEA said its secretariat will provide additional details on how the emergency stock release will be implemented and will continue monitoring global oil and gas markets, offering recommendations to member governments as the situation evolves.

Theres been a slowing in rent increases, but rents are still at a high level

By Mark Huffman of ConsumerAffairs

• Rent growth has stalled nationwide, but millions of renters still face severe affordability challenges after years of pandemic-era rent increases.

• Nearly half of all U.S. renters are cost burdened, spending more than 30% of their income on housing, according to a new Harvard housing report.

• Rising construction costs and a shift toward higher-priced apartments are shrinking the supply of lower-cost rental units.

Despite a recent slowdown in rent increases and signs of cooling in the apartment construction

pipeline, rental housing in the United States remains deeply unaffordable for households across a wide range of income levels, according to a new report from the Joint Center for Housing Studies of Harvard University.

The report, Americas Rental Housing 2026, finds that headline rent figures showing little or no growth in recent years mask the financial strain facing millions of renters who are still grappling with the lingering effects of steep pandemic-era rent hikes and a shrinking supply of lower-cost units.

Headline numbers showing flat or falling rents can be misleading, said Chris Herbert, managing director of the Joint Center for Housing Studies. For millions of renters, especially those with lower and moderate incomes, housing is deeply unaffordable.

National rent growth hovered near zero from mid-2023 through 2025 after surging earlier in the decade. By the fourth quarter of 2025, asking rents for professionally managed apartments had declined 0.6% compared with a year earlier. Vacancy rates rose to 5.2%, roughly the same level as a year earlier, as rental demand slowed faster than new supply reached the market.

Construction still strong but slowing

Multifamily construction activity remains high by historical standards, though it has begun to retreat from recent peaks. Developers started about 416,000 multifamily units in 2025, below the three-decade high recorded in 2022 but still above levels typical before the pandemic.

At the same time, the number of apartments under construction dropped significantlyfrom a record 996,000 units in 2023 to 686,000 in 2025. Market data also show a sharp year-over-year drop in new construction starts, suggesting a broader slowdown ahead.

Rising costs are a major factor. Between January 2020 and December 2025, prices for materials used in residential construction increased 42%, while employment costs for construction workers rose 24%.

These pressures have pushed developers toward higher-priced projects, contributing to a major shift in the rental market. From 2014 to 2024, the number of units renting for less than $1,400 per month fell by 9.3 million, while units renting for $1,400 or more increased by 11.8 million.

Cost burdens reach record levels

Even as rent growth has cooled, affordability problems have intensified. The report estimates that 22.7 million renter households in 2024about 49% of all rentersspent more than 30% of their income on rent and utilities, the threshold commonly used to define a cost burden.

Among them, 12.1 million households were severely cost burdened, meaning they spent more than half their income on housing.

Over the past five years, the share of renters facing cost burdens has risen in 44 states and in 88 of the 100 largest metropolitan areas. The trend increasingly affects middle-income households as well as those with the lowest incomes.

The affordability crisis is no longer confined to the lowest-income households, said Whitney Airgood-Obrycki, a senior research associate at the center. She noted that renters earning between $45,000 and $75,000 annually are increasingly struggling to keep up with housing costs.

Safety-net programs under pressure

The report warns that federal rental assistance and housing preservation programs are not keeping pace with growing demand. Aging rental housing, energy costs and climate-related risks are also increasing the need for investment in the nations housing stock.

Budget cuts to some safety-net programs and delays in energy assistance funding are adding pressure on household finances, while potential changes to disaster assistance policies could shift more responsibility to state and local governments.

Meanwhile, the high cost of homeownership is likely to keep many households renting longer. However, broader economic uncertainty and stricter immigration policies could also dampen rental demand in some markets.

As the filing deadline approaches, the tax agency plans additional support

By Mark Huffman of ConsumerAffairs

• The IRS is extending weekday office hours at more than 200 Taxpayer Assistance Centers nationwide to help taxpayers get in-person help during the filing season.

• Extended hours will run through April 30, giving filers more time to resolve issues or ask questions.

• Many centers will also open on select Saturdays through June 2026, although cash payments will not be accepted during those weekend hours.

The Internal Revenue Service is expanding hours at hundreds of its walk-in taxpayer service centers to help people get in-person help as the tax filing season continues.

The agency said more than 200 Taxpayer Assistance Centers (TACs) across the country will offer extended weekday hours through April 30, giving taxpayers additional opportunities to speak directly with IRS staff.

TACs provide face-to-face assistance for issues such as identity verification, payment plans, account questions and other tax concerns that may be difficult to resolve online or by phone.

Taxpayers can find out whether their local office is offering expanded hours by using the TAC Locator tool on IRS.gov, which lists office locations, directions and available services.

Weekend help also available

In addition to the extended weekday hours, the IRS said many assistance centers will also open on select Saturdays through June 2026.

During these special weekend openings, taxpayers can receive most of the same services available during normal hours. However, the IRS noted that cash payments will not be accepted during Saturday operations.

Information about participating offices and dates for Saturday hours is available on the IRS website at IRS.gov/saturdayhours. The agency said taxpayers should check the page regularly because participating locations and schedules may change.

More access to in-person support

The expanded hours are part of the IRS effort to provide additional support during one of its busiest times of the year.

By extending weekday hours and adding weekend openings, the agency hopes to give taxpayers more flexibility to get help with filing requirements, resolve account issues and meet upcoming tax deadlines.

Gasoline is not the only thing that is costing more

By Mark Huffman of ConsumerAffairs

• Gasoline and diesel prices are climbing sharply, pushing up transportation costs across the economy.

• Food, consumer goods, and shipping costs are rising as higher fuel prices ripple through supply chains.

• Air travel and household energy bills could increase if disruptions in Middle East oil and gas supplies continue.

Youre probably well aware that the price of gasoline has surged since the start of the Iran war. AAA reports the national average price of regular is $3.60 a gallon, 61 cents more than just before the start of war. That means an average fill-up costs an extra $9.

As painful as that is, economists say there is a growing list of other everyday expenses that are climbing as the war involving Iran disrupts global energy supplies and shipping routes.

The conflict has already pushed oil prices sharply higher and threatens to trigger a broader wave of inflation affecting gasoline, groceries, travel and other household costs. The International Energy Agencys decision to release 400 million barrels from emergency oil stockpiles may offer some eventual relief.

Energy markets are at the center of the shock. Fighting and threats to tanker traffic in the Strait of Hormuz a waterway that normally carries about 20% of the worlds oil and gas shipments have disrupted supplies and rattled markets.

With fewer shipments moving through the region, oil prices have surged and analysts warn they could climb further if the conflict continues.

Fuel prices already rising

One of the fastest impacts for consumers has been at the pump. Beyond gasoline, diesel the fuel that powers trucks, trains and much of the freight network has risen even faster, climbing 27% to about $4.78 per gallon.

Those increases are particularly significant because diesel is embedded in the cost of moving almost everything consumers buy.

Food and retail prices likely next

Higher diesel prices mean higher transportation costs for farms, manufacturers and retailers.

As trucking costs rise, economists expect the price of everyday goods including food, clothing, electronics and household items to follow.

Everything that winds up in a grocery store or everything that winds up at your retail store of choice, all of that stuff, it gets transported there and diesel is such an important part of those transportation networks, Jeff Krimmel, founder of Krimmel Strategy Group, told The New York Post.

Agriculture may be hit especially hard because farmers rely heavily on diesel-powered equipment and trucks, potentially pushing grocery prices higher during the coming growing season.

Shipping costs and online purchases

Global trade could also become more expensive. Shipping companies are already warning that war risks and longer routes around the Middle East could push freight rates and insurance costs higher, which can translate into higher retail prices.

If ships must avoid the Persian Gulf or travel longer routes, delivery times and logistics costs could rise significantly.

Air travel and energy bills

Airlines are another industry sensitive to oil prices. Jet fuel is one of the largest airline expenses, and rising crude prices typically lead to higher ticket prices. The disruption in energy supplies could also raise natural gas prices and household energy costs in some regions.

Economists warn the energy shock could spread through the economy. Some analysts say the war could push U.S. inflation back toward 4% or higher if oil prices continue climbing.

That would reverse much of the progress made against inflation over the past two years and could delay interest-rate cuts from the Federal Reserve.

For consumers, the bottom line is simple: when energy prices rise, almost everything else eventually does too.

After thousands of child injuries, regulators move to crack down on water bead toys

• Federal regulators are introducing new safety standards for water beads after thousands of children were injured by the popular toy.

• The small, colorful beads can expand dramatically when exposed to liquid, causing choking or dangerous internal blockages if swallowed.

• The new rules aim to limit how these products are sold and marketed, especially to protect young children.

Federal regulators are taking action against water beads the tiny, colorful pellets that expand dramatically in water after thousands of children were injured by the popular products.

The U.S. Consumer Product Safety Commission (CPSC) recently approved new safety standards designed to reduce the risks associated with these beads, which are often marketed as toys, crafts, or sensory play items.

The updated rules aim to better protect young children by addressing how the beads are sold, labeled, and marketed. Regulators say the changes are intended to prevent products that can expand dangerously inside the body from ending up in childrens hands. Consumer safety advocates have pushed for stronger action for years, arguing that water beads pose a unique hazard because they start out tiny but can grow much larger when they absorb liquid.

While the new standards are intended to reduce risks, many advocates say continued awareness among parents and caregivers will still be essential.

This overdue, commonsense step should reduce the risk of playtime turning into tragedy, Teresa Murray, Consumer Watchdog Director for U.S. PIRG Education Fund, said in a news release.

Children will be safer going forward because itll be difficult if not impossible to find these toys for sale, but this doesnt eliminate the risk posed by water beads already in peoples homes.

Why water beads can be dangerous

Water beads are made from superabsorbent polymers designed to soak up liquid. Originally developed for uses such as gardening and floral arrangements, they eventually became popular as sensory toys and craft materials because of their squishy texture and bright colors.

The problem is what happens if a child swallows one. A bead that starts out smaller than a pea can expand significantly once inside the body. In some cases, the bead can grow large enough to block the digestive tract, which may require emergency surgery to remove.

Injuries tied to water beads have been reported across the country. Federal safety data estimate that thousands of children were treated in U.S. emergency rooms between 2017 and 2022 after ingesting the beads. Doctors have also reported cases where children inserted the beads into their ears or noses, where they can swell and cause damage.

Because the beads are smooth, colorful, and often resemble candy, they can be especially tempting for babies and toddlers.

What parents should know

Even with new regulations in place, water beads may still be sold for certain purposes, including decorative or gardening uses. That means they can still make their way into homes where young children live or visit.

If you have water beads or are thinking about buying them experts recommend taking a few precautions:

• Keep them away from small children, especially those under age three.

• Store beads securely and carefully clean up any that spill, since the tiny dry pellets are easy to miss.

• Act quickly if theres a concern, and seek medical help if a child may have swallowed one or placed one in their ear or nose.