Immediate Economic Impact and Oil Price Surge

The widening war in Iran is rattling the global economy and sending gas prices soaring. One expert calls it the biggest oil supply disruption ever. Crude prices surged past the $100 a barrel mark for the first time in four years, before retreating. On average, Americans are now paying $0.50 more per gallon since before the war began ten days ago, and new attacks on oil targets across the Mideast are sparking worldwide fear that prices will climb even higher. 

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