Iran war pushes oil past $100, US gasoline tops $4
Oil prices just crossed $100 a barrel, thanks to major supply disruptions caused by the ongoing war in Iran.
This spike has bumped US gasoline above $4 a gallon, and people are worried about what it means for the economy.
Energy expert Bob McNally summed it up: earlier optimism was misplaced given how tense things have gotten.
US refineries at capacity, reserves lowest
The US is struggling to deal with these price jumps: refineries and exports are maxed out, and emergency oil reserves are at their lowest in decades.
Even though the United States leads in shale oil production, global conflicts like this still leave everyday consumers vulnerable to rising costs.
Hormuz shipping disruptions threaten oil prices
The Iran war has seriously disrupted the Strait of Hormuz, which is crucial for global oil shipments.
If fighting continues, experts warn prices could keep climbing, so don't be surprised if your next fill-up feels even pricier.