Oil prices have surged following escalating tensions between Iran and Israel, with concerns about disruptions in the region’s oil supply.
Iran launched missiles at Israel, and the possibility of Israeli retaliation is adding to market uncertainty. U.S. gas prices have risen slightly, averaging $3.18 per gallon, though they remain lower than last year’s levels. Experts argue that despite the geopolitical risks, ample global oil supply and tepid demand may keep prices stable.