The recent conflict in Iran has disrupted crude oil supply, leading to significant fluctuations in global oil prices. Following military strikes and rising tensions in the region, oil prices surged nearly 13%, with some analysts predicting they could exceed $100 a barrel. The situation is particularly critical around the Strait of Hormuz, where increased shipping fears and halted tanker traffic are causing pricing confusion in oil markets. As the conflict escalates, the implications for gasoline prices are becoming evident, with warnings of higher costs at the pump in the U.S. and concerns for the global economy. The ramifications of this crisis may result in one of the largest oil shocks in years, highlighting the vulnerability of markets to regional conflicts.