Oil prices are climbing and Trump's approval on inflation is collapsing, which is bad for his presidency and bad for American wallets.

• Oil pushed past $90 a barrel after Trump threatened to seize Iran's Kharg Island and launched new strikes on Iran.
• The conflict is choking off oil supply, and government oil reserves are running low — some warn they could be drained by end of summer.
• If reserves run out, oil prices could jump 50%, hitting peak summer travel season.
• Trump said he "loves the inflation," a tone-deaf remark while voters are furious about the cost of living.
• Polls show his net approval on inflation is 50 points underwater or worse — something no other president has hit.

Outlook: With no peace deal in sight and reserves shrinking, gas prices and public anger are likely to keep rising.