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00:02U.S. average retail gasoline prices are set to rise above $3 per gallon on Monday for the first
00:07time in more than three months after U.S. and Israeli strikes on Iran-disrupted global oil
00:12flows, according to Reuters. Rising gasoline prices could pose a political risk for Trump
00:18and Republicans ahead of the November midterms as inflation remains a voter concern.
00:22GasBuddy analyst Patrick DeHaan said prices could surpass $3 for the first time this year
00:27after falling to $2.85 in February. A major global oil supplier, Iran said it has closed
00:34navigation through the Strait of Hormuz after U.S. and Israeli airstrikes killed its supreme
00:38leader, Ali Khamenei. Around one-fifth of global oil moves through the choke point.
00:44Brent crude rose 10% to about $80 per barrel, and some analysts see a move toward $100.
00:49The price increases reverse months of declines driven by high inventories and weak demand,
00:54though large stockpiles could buffer global disruptions and limit further spikes.
00:59For all things money, visit Benzinga.com.
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