The escalation of the conflict in Iran has shaken global oil markets. Brent crude climbed to around $83 per barrel after prices surged 16 percent in just a few days. American drivers are already feeling the effects: the average gasoline price in the US rose by 27 cents to $3.25 per gallon.

A key concern for markets is the Strait of Hormuz — a strategic maritime route through which approximately 20 percent of global oil trade passes. Although Iranian authorities claim they do not plan to close the strait, numerous shipping companies are already avoiding it due to security risks. Trade traffic through Hormuz has been significantly reduced — some estimates indicate a decline of over 95 percent.

US President Donald Trump made clear he prioritizes strategic success over economic consequences. "I am not concerned at all. If prices rise — let them rise. This is much more important than a slight increase in gasoline prices," Trump stated. He confirmed he does not plan to use strategic petroleum reserves, expressing confidence that the Strait of Hormuz will remain open.

Analysts warn that if the conflict intensifies further, the consequences for global energy markets will be significant. China and Japan have already taken measures: China postponed diesel and gasoline exports to protect domestic supplies, while Japan requested the release of strategic fuel reserves. Analysts also suggest Washington may be considering military escort of tankers through Hormuz.

Trump estimated the military campaign will last four to five weeks, though analysts question both that timeline and the clearly defined end goals the US administration has yet to articulate publicly.