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Oil Prices Surge as Iran Ceasefire Ends | Texas News
Trump’s ceasefire with Iran is officially over, sending oil prices surging nearly 6%—Brent crude now above $78, U.S. benchmark past $74. While gas prices in the U.S. are currently around $3.79—down over a dollar from just months ago—the real impact won’t hit pumps anytime soon. Refineries lock in crude prices months ahead, so higher costs will trickle down over weeks or even months. Meanwhile, ships remain stuck in the Persian Gulf, and oil producers may ease back up, anticipating lower demand through the Strait of Hormuz. Your wallet won’t feel the full blow immediately—but watch this space…
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