Energy markets were hit by a massive wave of volatility Monday as intensifying military action in Iran sparked immediate fears over the world’s fuel supply. Brent crude, the global benchmark for oil, surged 9% to trade above $79 a barrel, while the U.S. benchmark climbed nearly 8%, settling near $73.
The price spike follows a weekend of escalating tensions that have placed the Strait of Hormuz—the world’s most critical energy chokepoint—in the crosshairs.
Analysts warn that if the conflict leads to large-scale production strikes or a total shutdown of shipping channels, prices could easily blow past $100 a barrel.
READ: Operation Epic Fury: Trump Gives 36-Hour Update On Massive U.S. And Israeli Strikes Against Iran
While the market is currently leaning against a “worst-case” long-term shutdown, the threat of sustained high prices is already rippling through the economy.
If the situation does not de-escalate, experts suggest American consumers could see gasoline prices rise significantly.
Beyond the immediate cost at the pump, industry observers are concerned that the price of “regime change” in Iran could result in a long-term affordability crisis for U.S. households.
A prolonged energy rally would likely force a difficult trade-off between foreign policy goals and domestic economic stability.
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