Oil prices are surging following this weekend’s US and Israeli strikes on Iran. Fears mount that the conflict could drag on for weeks.
Compounding that concern are reports that Iran is moving to restrict passage in the Strait of Hormuz—the world’s most critical oil export route. a prolonged blockade – and the potential targeting of oil facilities -- could create a severe global supply crunch.
The destabilization of the region is also impacting other industries, including travel and banking. Meanwhile, gold and the dollar bounced as investors moved to safety, fearing the military operation could be prolonged.
FOX Business Network’s Taylor speaks with her Big Money Show co-host Jackie DeAngelis about how Operation Epic Fury has the oil markets on edge, and what it could mean for gas prices in the coming weeks and months.
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