Oil prices react to Iran strikes
Oil prices rose Monday morning as the market responded to US strikes in Iran and subsequent Iranian military action in the Persian Gulf. US oil trade trendsshow that, while the US used to rely on the global trade market to import its oil, it now exports more than it imports, and the petroleum it does import is increasingly from its neighbors and not the gulf.
- As of 2006, the US was importing 10 times more crude oil and petroleum products than it exported. But exports began exceeding imports in October 2019; and by 2025, exports exceeded imports by 35% for the full year.
- In December 2025, the US imported 257 million barrels of oil, down from a monthly peak of 456 million in August 2006.
- As the nation imports less oil, the share coming from the Persian Gulf has also fallen. Oil from the region comprised as much as 20.4% of US oil imports in 2013, but had decreased to 8.5% in 2025.
- As of 2025, the US imported 57% of its oil from Canada and 6% from Mexico. The next-highest share was from Saudi Arabia at 4%.
Ask an Analyst: Why do job numbers change?
Ask an Analyst is a new series where our analysts let you in on how they make sense of the data. Ever notice how jobs numbers get “revised” months afterward? Why is that? Did the nation add jobs or didn’t it? In this edition, Chris takes a stroll, sorry, we mean scroll, to explain just why the government counts (and recounts) jobs in this manner.
Tariffs are in the news — again
On February 20, the Supreme Court struck down the Trump Administration’s use of an emergency law to impose tariffs. The administration has said it will use other governmental levers to impose tariffs — but how big of an impact have the recent tariffs had? Well, for starters, the government raised a record level of revenue from tariffs last year.
- The federal government collected $194.9 billion in tariffs and other customs duties in fiscal year 2025. We adjusted for inflation and found that’s $83.8 billion more — a 75.4% increase — than the recent record in FY 2022 (which occurred after the US imposed tariffs on many imports, mostly from China). Customs duty revenue ranged from $28 billion to $53 billion from FY 1980 to FY 2017.
- Tariffs and other customs duties were the largest source of federal revenue in the 18th and 19th centuries, before the establishment of income taxes, particularly those authorized by the 16th Amendment.
- Despite hitting recent highs, customs duties had not exceeded 2% of total federal revenue from FY 1980 to FY 2024. In FY 2025, they comprised 3.7%.
- As of January (so, four months into the federal fiscal year), FY 2026 customs duty revenue had reached $117.7 billion, which is 318.1% higher than the same point in FY 2025.
- A report from the Congressional Budget Office found that consumers have paid about 95% of tariff costs.
- For more on how tariffs affect trade, watch this explanation from USAFacts Founder Steve Ballmer.
Data behind the news
The FBI is investigating a Texas bar shooting that killed two people and wounded 14 as a possible terrorist act. Learn more about domestic terrorism in the US here.
The attacks in Iran has raised questions about locations of US troops. The 2026 State of the Union in Numbers has the latest metrics but this behind the scenes look explains why that’s not the full data story.
Looking for the answer to last week’s poll? We’ll have it for you next week! Here’s the data on expedited removals in the meantime.
Take the weekly fact quiz and see how well you know data from last week’s newsletter.
One last fact
Both men and women are marrying later in life.
In 2004, the median age at first marriage for men was 27.4 years. By 2014, it was 29.3. By 2024, it had risen to 30.2. Men in Connecticut, Massachusetts, and New Hampshire marry for the first time at even higher median ages: 32.4.
See the average ages for women right here.
