Awidening war with Iranhas sent shockwaves through global markets and foreign capitals, jolting oil prices, rerouting flights and forcing the White House into urgent crisis management mode.
The conflict has already shaken global oil markets, pushed American petrol prices sharply higher and disrupted travel routes across the Middle East. As the military campaign escalates, thousands of Americans abroad face uncertainty while energy markets brace for further shocks.
Inside Washington, officials are scrambling to stabilise fuel costs, protect shipping routes and evacuate citizens from rapidly deteriorating security zones.
Energy markets reacted almost instantly afterUnited States and Israeli strikes hit Iranian targetsacross multiple cities in late February.
Oil prices surgedas traders anticipated disruptions in one of the world's most strategically critical energy regions. Brent crude rose sharply, while US benchmark West Texas Intermediate also jumped following the strikes and Iranian retaliation. Analysts attribute the spike to fears that Middle Eastern supply could be interrupted for an extended period.
TheStrait of Hormuzsits at the centre of the crisis. Roughly 20 per cent of the world's oil supply passes through the narrow waterway that connects the Persian Gulf with global shipping routes. Any disruption there can ripple across the entire energy market within hours.
Early indicators show the shock already reaching consumers. The national average petrol price in the United States climbed to about $3.11 (£2.44) per gallon after rising 11 cents overnight, marking the largest single-day increase in three years, according to market analysts tracking fuel data.
Energy economist James McCann warned that sustained price shocks historically trigger broader inflation across transport, manufacturing and household energy costs.
For American households already grappling with rising living costs, the surge in petrol prices is likely to become one of the most visible domestic consequences of the expanding conflict.
Oil prices surged on Thursday as the U.S.-Israeli conflict with Iran disrupted supplies, prompting some Middle Eastern producers to cut output, Reuters reports.Brent crude rose 3.6% to $84.32 per barrel, while U.S. West Texas Intermediate gained 5.9% to $79.06.pic.twitter.com/02GAwBGmJp
Source: International Business Times UK
