Oil and gas prices jump amid attacks on Middle East energy facilities
Quick Insights
AI Summary
Attacks on Middle East energy facilities have triggered a spike in oil and gas prices, with Robert Schroeder, Washington bureau chief for MarketWatch, weighing in on the market reaction during a CBS News segment. Disruptions to regional energy infrastructure directly threaten global oil supplies, which is why commodity markets typically react sharply to conflict in the world's most productive oil-producing region. The price surge at the pump reflects traders' immediate concerns about potential supply shortages and logistics disruptions in a strategically critical area. Energy market volatility tied to Middle East geopolitics historically puts pressure on U.S. consumers and businesses that depend on stable fuel costs.
Source Coverage Map
16 of 43 tracked sources covered this story
Following this story?
Get notified when new coverage appears
Other Sources Covering This Story
5 sourcesMultiple outlets have reported on this story. Compare perspectives from different sources.
U.S. mulls lifting oil sanctions on Iran as it hits key Gulf energy sites - The Washington Post
This article is part of a story we're tracking:
Iran & Middle East Conflict
Tracking the evolving military and diplomatic situation across the Middle East, including US-Iran tensions, Israeli operations, proxy conflicts, and the broader geopolitical implications for the region.
Climate & Environment
Monitoring climate change developments, extreme weather events, environmental policy shifts, energy transition progress, and the scientific, economic, and political dimensions of the environmental crisis.
Should this be getting more attention?
You Might Have Missed
Related stories from different sources and perspectives
PoliticsExclusive: Gallego presses DOE on oil reserve as gas prices rise
<p>Sen. Ruben Gallego (D-Ariz.) is pressing the Energy Department for details on plans to provide oil from the <a href="https://www.axios.com/2026/03/11/trump-strategic-oil-reserve-gas-prices-iran-war" target="_blank">Strategic Petroleum Reserve</a> as pump prices rise. </p><p><strong>Why it matters:</strong> Gallego's <a href="https://www.documentcloud.org/documents/27883925-spr-letter-doe-march-13-2026/" target="_blank">new letter</a> to Energy Secretary Chris Wright, viewed first by Axios, shows how the energy effects of the Iran war are spilling into Capitol Hill — and politics more broadly.</p><hr><ul><li>Gallego is a <a href="https://www.axios.com/2026/03/15/ruben-gallego-dnc-ken-martin" target="_blank">potential</a> 2028 Democratic presidential hopeful.</li></ul><p><strong>Driving the news:</strong> The letter asks how the SPR move will affect gasoline prices and supply in Arizona, as well as questions about the planning process.</p><p><strong>The big picture: </strong>The En...
Global‘I don’t give a shit about Iran. I don’t want to pay higher gas’: Motor City motorists feel pinch as gas prices surge
<p>Drivers in Detroit are unhappy with the spike in gas prices, even if reactions are mixed to the US-Israel war on Iran</p><p>On a rainy <a href="https://www.theguardian.com/us-news/detroit">Detroit</a> afternoon at a gas station off Interstate 75, Victor Rodriguez watched the pump tally tick up as he filled up his F-250 diesel pickup truck for $4.19 per gallon. It totaled $110. “Ridiculous,” he said.</p><p>The <a href="https://www.theguardian.com/world/us-israel-war-on-iran">US-Israel war on Iran</a> has <a href="https://www.theguardian.com/business/2026/mar/12/middle-east-war-creating-largest-supply-disruption-in-the-history-of-oil-markets">crippled major portions</a> of the oil supply chain, sending gas prices soaring as the conflict enters its third week. Rodriguez said he supports “getting rid of this thug”, referring to Iran’s <a href="https://www.theguardian.com/world/2026/mar/08/death-of-khamenei-seen-as-irans-berlin-wall-moment">Ayatollah Ali Khamenei</a>, who was killed b...
GlobalChina makes energy security 'reunification' offer to Taiwan amid Middle East war - Reuters
<a href="https://news.google.com/rss/articles/CBMiwAFBVV95cUxNbFBFZjF1anpmNjRKZXJPbFlXWFBvelktV1hVaV9xalZ1TDBpN2U1enJOUmNBWVlfd296X2g2Vk1EQ0NrN1kyU1dBVEdaS2RuYklxbFV5RTRIS3VVSWwzaGR2VTdOM09ybmlCUjBOcDZSNVBSYjNSZDVuU0Y5RFEtYU95YmowSW1BZ0xvYVRySFVpTDJJLTRqanVZb3Q0Z09mcjR4ZkQ5VHI1dlhPVmdUOHhtel94aWMxdVM1RUJOVHI?oc=5" target="_blank">China makes energy security 'reunification' offer to Taiwan amid Middle East war</a> <font color="#6f6f6f">Reuters</font>
EnvironmentContentious Alaska oil, gas drilling rights sale generates record revenue
The Trump administration said this week that its recent sale of the rights to drill in a contentious area of Alaska generated record revenue for federal oil and gas lease sales. The news signals optimism from the oil industry that high energy prices could persist — as expanding oil and gas drilling can be years-long…
PoliticsFrom the archives: Richard Nixon addresses the 1973 energy crisis
Then-President Richard Nixon addressed the nation from the Oval Office during the 1973 energy crisis. Fueled by the Yom Kippur War, members of the Organization of the Petroleum Exporting Countries in the Middle East banned the sale of oil to the U.S. and other countries, sharply raising gas prices for Americans as they faced their first fuel shortage since WWII.
GlobalIran intensifies attacks on Gulf energy sites after Israel struck its key gas field
The strikes, in retaliation for an Israeli attack on a key Iranian gas field, sent fuel prices soaring and risked drawing Iran's Arab neighbors directly into the conflict.
US Postal Service could run out of money as soon as October - Reuters
<a href="https://news.google.com/rss/articles/CBMimwFBVV95cUxOX0xZZVhKVmJyeExTLUlJZzNuRmRoYUVoTGNPOS1vbXNydTlhcjNMWFF0amNsdEc0WWtYc1M0VVoxbVdDOHpXR3B6S0tSc3J4QzJVWWdkUkRuWW5keV9jampOODVlQ3l3cXdQWDd1NGtmb0dya3RybTRqdnRBT0p4VTlOMHVUbElDSkVvOFB3TUNBaHI2d0dGbFhGOA?oc=5" target="_blank">US Postal Service could run out of money as soon as October</a> <font color="#6f6f6f">Reuters</font>
Did this story change how you see things?
Stories like this only matter when people see them. Help us get verified journalism in front of more eyes.
The Verity Ledger curates verified investigative journalism from trusted sources only.
See our sourcesMost Read This Week
Race on to establish globally recognised 'AI-free' logo
Biggest wildfire in Nebraska history continues to burn out of control - abcnews.com
TikTok and Meta risked safety to win algorithm arms race, whistleblowers say
Defense official reveals how AI chatbots could be used for targeting decisions
Bank of America reaches proposed, non-binding settlement in Jeffrey Epstein suit
