What an extended war with Iran could mean for gas prices

Over the weekend, the U.S. and Israeli strikes against Iran intensified tensions in the Middle East and gave rise to concerns here at home about the cost of fuel at the pump. Oil prices jumped Monday, with U.S. benchmark West Texas Intermediate crude futures (CL=F) rising over 8% to $72 a barrel. Brent crude futures (BZ=F), the international benchmark, surged to $82 a barrel before paring back to about $77 a barrel. "We saw an immediate knee-jerk reaction that so far has added $3.75-$5/bbl for crude. Brent, ...