Commodities
Middle East Conflict Drives Up Gas Prices to Record Levels
Gas prices in the US have reached a national average of $4.46 per gallon for regular gasoline, according to AAA, as of September 18.
The ongoing conflict in the Middle East has disrupted global oil supplies, causing higher crude oil prices and subsequently pushing up gas prices.
A recent attack on Saudi Arabia's East-West pipeline, a major oil shipping route, damaged the pipeline and reduced oil exports by an estimated 4% of global supply, according to Rystad Energy.