00:00The conflict between the United States and Iran has sent global oil prices on a wild ride.
00:06At one point this week, oil surged to nearly $120 per barrel, the highest level in about four years.
00:13The spike came as fighting in the Middle East disrupted shipping routes and oil production
00:17across the region. One major concern is the Strait of Hormuz, a critical passage that normally
00:23carries around 20 million barrels of oil every day, as fears about supply spread through global
00:29markets. Gasoline prices in the United States have started climbing. In some areas, especially
00:36parts of California, gas prices have already jumped above $5 per gallon, raising concerns
00:42for drivers and businesses alike. President Donald Trump says the war could be nearing its end.
00:49Speaking to reporters, he said the military operation is largely complete and predicted
00:54the conflict may wrap up soon. After those comments, oil prices dropped sharply as investors
01:00hoped tensions might ease and supply disruptions could be limited. However, the situation remains
01:06uncertain. Iran has warned it could block oil exports from the region if attacks continue,
01:12which could push energy prices even higher worldwide. For now, Americans are watching closely,
01:18because what happens in the Middle East could directly affect the price they pay at the pump.
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