The US attacked Iran. Here's what that means for you at the gas pump.
USA TODAY
Oil prices rose on fears of war. Now the U.S. and Israeli military strikes on Iran could disrupt oil exports and drive up gas prices.
Oil prices rose on fears of war in the Persian Gulf. Now the U.S. and Israeli military strikes on Iran could disrupt oil exports and cause prices to spike.
Benchmark Brent crude oil prices closed at a seven-month high on Feb. 27 amid global worries of a larger conflict.
“As oil markets reopen Sunday evening for electronic trading, crude will almost certainly jump,” said petroleum analyst Patrick De Haan.
Energy analysts at Barclays predicted crude oil prices would hit $100 a barrel “as the market grapples with the threat of a potential supply disruption amid a spiralling security situation in the Middle East.”
The scale of the disruption will depend on how long the conflict lasts, according to De Haan.
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