USO and BNO are rated hold, with trading preferred over investing amid heightened Middle East conflict volatility. Read more on USO and BNO ETFs here.

Oil prices surge 13% after Iran strikes shut down Strait of Hormuz traffic. Exxon Mobil and Chevron stocks rise on expectations of higher crude prices.

Oil prices rose sharply when market trading began late Sunday over concerns that the supply from Iran and elsewhere in the Middle East would slow or grind to a halt.

Israel launched a new wave of strikes on Tehran and Iran responded with more missile barrages. Iran has said it has closed navigation through the Strait of Hormuz, prompting Asian governments and refiners to assess oil stockpiles.

As a heavy fuel importer, Pakistan could see its current account deficit widen by $1.5–$2 billion for every $10 oil increase.

Global oil prices spiked after U.S.-Israeli attacks on Iran. These five charts show effects on oil prices, stock markets and other market indicators.

Average gasoline prices in Minnesota have increased by 9.3 cents per gallon in the last week, according to GasBuddy’s survey.

The rise in crude oil prices poses significant risks for India's economy and its oil marketing companies, particularly as OMC stocks decline amidst escalating Middle East tensions. A spike in Brent crude prices could lead to retail fuel price increases,