US-Israel Strikes on Iran: Oil Prices Soar

0:00On March 1st, the United States and Israel hit Iran with strikes on Saturday, and President Donald Trump claimed they took out Supreme Leader Ali Kaminay. This sparked a fresh conflict in the Middle East, with Iran firing missiles back at Israel right away. Gulf Arab nations that pump out oil are now on high alert, worried about a bigger fight. Major oil companies and traders halted crude and fuel shipments through the Strait of Hormuz due to the chaos. Oil in the region and markets are reacting fast to the risks. Energy experts warned this could mess with global supplies and drive up prices big time. Analysts predict oil could jump sharply when trading starts Monday, maybe 5-10 dollar higher from the current $73 level, or even hit $100 a barrel if things worsen. Some see a 10-25% premium without a full blockade. Gold and energy stocks look set to rally as safe bets, while other markets brace for shakes from any more retaliation. Keep an eye on de-escalation talks to see where prices settle.