institutional access

You are connecting from
Lake Geneva Public Library,
please login or register to take advantage of your institution's Ground News Plan.

Published loading...Updated

What the Israel-Iran Conflict Means for Gas Prices

MIDDLE EAST, JUN 13 – The conflict threatens to disrupt 21 million barrels of daily oil through the Strait of Hormuz, risking supply shocks and inflation increases of 0.4 percentage points per 10% oil price rise, experts say.

  • Israel launched an overnight airstrike targeting Iran's nuclear program, causing oil prices to surge on June 13-14, 2025, amid tensions near the Strait of Hormuz.
  • The strike followed ongoing conflicts between Israel and Iran and raised concerns about potential disruptions to shipping through the Strait, a critical route for one-fifth of global oil trade.
  • Brent crude prices jumped over 7%, peaking at $78.50 per barrel overnight before settling near $74.23, while analysts noted no immediate damage to Iran's petroleum facilities or supply capacity.
  • David Oxley stated a $10 rise in oil adds about 7p per gallon at the pump, but market regulation may slow this impact on households, and Patrick De Haan said he "doesn't expect this to be super impactful."
  • If the conflict escalates and blocks trade routes, Goldman Sachs warned oil could exceed $100 per barrel, which could raise inflation notably; however, current disruptions seem limited and prices may stabilize if supply remains steady.
Insights by Ground AI
Does this summary seem wrong?

167 Articles

All
Left
15
Center
52
Right
18
Lean Left

The President of Serbia, Aleksandar Vučić, said today that the price of oil in Serbia will rise on Friday if the conflict between Iran and Israel is not ended.

·Belgrade, Serbia
Read Full Article

Israel's recent attack on Iran generated an immediate reaction in the international oil markets, which could result in increases in fuel prices in Costa Rica.This was explained by Karla Montero, president of the Costa Rican Petroleum Refiner (Recope), noting that these events directly affect the global availability of crude oil.oil is triggered by escalation between Israel and IranThe impact is aggravated by the importance of the Strait of Ormuz…

Think freely.Subscribe and get full access to Ground NewsSubscriptions start at $9.99/yearSubscribe

Bias Distribution

  • 61% of the sources are Center
61% Center
Factuality

To view factuality data please Upgrade to Premium

Ownership

To view ownership data please Upgrade to Vantage

caradisiac.com broke the news in on Friday, June 13, 2025.
Sources are mostly out of (0)

You have read 1 out of your 5 free daily articles.