l๐ข๐ถ๐น ๐ฃ๐ฟ๐ถ๐ฐ๐ฒ ๐ฆ๐ฝ๐ถ๐ธ๐ฒ ๐ฃ๐๐๐ ๐ช๐ต๐ถ๐๐ฒ ๐๐ผ๐๐๐ฒ ๐ผ๐ป ๐๐ฑ๐ด๐ฒ ๐ฎ๐ ๐ ๐ถ๐ฑ๐ฑ๐น๐ฒ ๐๐ฎ๐๐ ๐ง๐ฒ๐ป๐๐ถ๐ผ๐ป๐ ๐ฅ๐ถ๐๐ฒ
๐ข๏ธ Oil Prices Are Soaring โบ Global oil prices jumped $8 overnight after Israel launched airstrikes on Iran
โบ Oil now sits at $73 per barrel โ analysts say this could rise to $100 if the situation worsens
โบ The crisis is far from the U.S., but the impact hits American wallets directly
๐ Trumpโs Energy Problem โบ President Trump promised lower energy prices, but markets arenโt cooperating
โบ Gasoline prices may rise 25 cents per gallon soon, analysts warn
โบ Electricity and natural gas costs are also climbing
๐ Few Options Left โบ Trumpโs main tool โ the Strategic Petroleum Reserve โ has already been heavily drained
โบ Only 402 million barrels remain, down from 626 million in 2021
โบ Tapping it again now could leave the U.S. vulnerable later
๐ฌ Experts Are Worried โบ Bob McNally: โThese oil spikes are more likely to cause a recession than just inflationโ
โบ Andy Lipow: If Iran hits back or blocks the Strait of Hormuz, we could see $100 oil
โบ Iran knows that high oil prices hurt Trump politically
๐ฃ๏ธ White House Response โบ DOE says theyโre cutting red tape to boost U.S. energy output
โบ But market watchers say talk isnโt enough โ the surge is driven by war fears, not regulations
๐ง Market Context โบ Oil was dropping earlier this year due to Trumpโs โLiberation Day tariffsโ and rising OPEC output
โบ But the Israel-Iran tension erased those gains
โบ Next week may see either stabilization or another price surge, depending on military developments
๐ Why It Matters โบ Energy costs affect everything โ from food prices to crypto markets
โบ Rising gas prices could damage Trumpโs popularity, just like they did Bidenโs
โบ If the conflict worsens, economic pain may spread far beyond the gas pump