Iran War Oil Shock Hits Home in Unexpected Way

U.S. President Donald Trump went into the Iran war thinking that America's vast oil wealth would protect it from energy shocks, but four weeks into the conflict, that shield is looking fragile.

The U.S. has seen a surge in oil prices, with Brent crude rising 55% since late February to around $110 a barrel and West Texas Intermediate climbing 50% to around $99.

However, the U.S. has been less affected than other countries due to its own large oil production and exports, which have increased significantly over the past decade.

But now, as Middle Eastern supplies are constrained, buyers in Asia and Europe are turning to alternative sources, including the U.S., pulling more U.S. hydrocarbons into the international market and tightening supplies at home.