U.S.-Israel Attacks on Iran Risk Wider War, Higher Fuel Prices

Within hours of the joint US and Israeli strike on Iran, Ali Vaez, who directs the Iran Project at the International Crisis Group (ICG), warned that the war could escalate, Joshua Boak reported for the Associated Press (AP).

The war could lead to higher energy costs, which would undercut one of President Donald Trump’s domestic political messages that gasoline prices have been lower since his return to the White House. 

Vaez stressed on social media that Iran had been preparing for the conflict and that a wider war could break out across the Middle East.

He also warned that the war could lead to higher energy costs, which would undercut one of President Donald Trump’s domestic political messages that gasoline prices have been lower since his return to the White House.

“Iran sits along the Strait of Hormuz, through which roughly a fifth of the world’s oil supply passes,” Vaez posted. “Even limited disruption could spike energy prices, fuel inflation, and rattle global markets.”