US-Iran Tensions Could Boost Gas Prices

Ad Feedback

The latest tensions between Iran and the United States could soon have an impact at the gas pump.
Oil prices jumped 4 percent Tuesday.
The rise came after Tehran threatened military action against a U.S. warship if it returns to the Strait of Hormuz, the key waterway used for oil shipments.

"Current global economic activity and oil market fundamentals do not justify today's elevated price levels," said energy analyst Richard Soultanian with NUS Consulting.

However, "it's clear that the (Iran) situation will not resolve itself quickly and markets will be driven largely by headline risk and not fundamentals for the foreseeable future," he added.
Analysts believe oil prices could keep going up as long as the tension between the two countries remains.

Log in or create an account to post a comment.  


Are you seeking answers in life? Are you hurting? Are you facing a difficult situation?

Find peace with God, discover more about God or send us your prayer request.

Call The 700 Club Prayer Center at 1 (800) 823-6053, 24 hours a day.

A caring friend will be there to pray with you in your time of need.

CBN News

CBN News is a national/international, nonprofit news organization that provides programming by cable, satellite, and the Internet, 24-hours a day. Follow us on Facebook, Twitter, and Google+.