Episode Details

Oil prices are surging past $100 a barrel as Middle East tensions escalate, with attacks on oil facilities and ships disrupting global supply chains. U.S. gas prices jumped seven cents overnight to $4.22 a gallon — over a dollar higher than last year — while diesel hit an all-time high at $5.94 and airlines cut flights amid soaring jet fuel costs. The U.S. military’s strikes on Iranian tankers and ongoing Houthi attacks in Saudi Arabia are fueling fears of further supply disruptions through the Strait of Hormuz, a critical chokepoint for 20% of global oil. Analysts warn prices could climb to $95–$120 a barrel if shipping lanes remain blocked, or even spike to $150 if major infrastructure is damaged. With midterm elections looming, rising energy costs are poised to become a major political issue.

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