On Saturday, June 22, the United States launched what it called “Operation Midnight Hammer,” using B‑2 stealth bombers and Tomahawk missiles to strike three Iranian nuclear facilities at Fordow, Natanz, and Isfahan. U.S. officials said the sites suffered “extremely severe” damage, though Iran denied any lasting harm (Financial Times). Global markets reacted quickly as investors grew concerned about possible retaliation.
Oil prices spiked in response to the strikes. Brent crude briefly rose over 3% to more than $81 per barrel before settling around $78, while U.S. crude hit about $75–76 (Financial Times). That’s the highest level seen since January and reflects fears that Iran could disrupt shipping through the Strait of Hormuz, a key pathway that carries roughly 20% of the world’s oil (Washington Post).
For northeast Texans, higher global oil prices could mean more expensive gasoline at the pump. If Iran actually shuts or jams the Strait of Hormuz, analysts warn Brent prices could exceed $100 per barrel—potentially pushing U.S. pump prices toward $4 per gallon (The Guardian). Still, many experts believe Iran may avoid that, since the country and its partners—including China—would face serious economic fallout (Financial Times). Without a major supply disruption, oil prices may stay elevated but not skyrocket.
Why This Matters Locally:
- Northeast Texas is home to many drivers and families who feel the impact when gasoline prices climb.
- Local airlines and farmers could also see rising costs if oil stays high.
If Iran takes no further action, analysts say the price jump may be short‑lived. But if tensions worsen, Texans may soon pay more at the pump and face ripple effects in the economy.
