Oil prices jump on Middle East worries as U.S., Israel reportedly weigh fresh Iran strikes
The Middle East conflict could flare up again as the U.S. reportedly plans to resume strikes against Iran.
TL;DR
- Oil prices climbed on worries of a Middle East conflict escalation.
- The U.S. reportedly plans to resume strikes against Iran after midterm elections.
- Non-emergency government employees and families were ordered to leave Saudi Arabia.
- The economic fallout from high oil prices may be less severe than in previous decades.
- Consumers are less vulnerable to energy shocks compared to past decades.