Oil prices took a nosedive—dropping 7%—after Iran's missile strike on a U.S. airbase in Qatar unexpectedly eased fears of a major supply disruption. Markets had braced for chaos, but the attack’s limited scope signaled that Iran might avoid escalating tensions further, at least for now. Traders breathed a sigh of relief, sending benchmark crude prices like West Texas Intermediate down to around $68.51.

Editor’s Note: This isn’t just about oil traders cashing in—it’s a sign that markets are reading geopolitical tea leaves in real time. When tensions flare in the Middle East, energy prices usually spike on fears of blocked shipping lanes or supply cuts. But this drop suggests investors think the U.S. and Iran might step back from the brink, avoiding a full-blown crisis (for now). That’s good news for drivers and businesses worried about gas prices, but it’s a fragile calm—one misstep could flip the script overnight.

Goldman Sachs is sounding the alarm that oil prices could skyrocket to $100 per barrel if tensions in the Strait of Hormuz lead to disruptions—a critical shipping route for global oil. Meanwhile, oil prices dipped slightly as former President Trump called for lower prices, adding another layer of uncertainty to an already volatile market.

Editor’s Note: If the Strait of Hormuz—a narrow but vital passage for oil tankers—gets shut down or even partially blocked, it could send shockwaves through the global economy. Higher oil prices mean more expensive gas, shipping, and manufacturing costs, which could hit consumers and businesses hard. Trump’s comments add political pressure, but the real risk is a geopolitical flashpoint turning into an economic headache for everyone.

Oil prices are climbing globally following U.S. airstrikes on Iran's nuclear sites, sparking fears of escalating tensions in the Middle East. NBC News' Claudio Lavanga breaks down how the conflict is rattling energy markets, with Israel also ramping up its offensive against Iran's leadership.

Editor’s Note: When geopolitical tensions flare up in oil-rich regions, prices tend to spike—and that affects everything from gas pumps to global inflation. This story matters because it’s not just about distant conflicts; it could hit wallets worldwide if the situation worsens.