The ongoing war in Iran has triggered chaos in the global oil market, with prices soaring to over $100 per barrel for the first time in years. Fear of supply disruptions, particularly with the closure of the Strait of Hormuz, has led to a 4% increase in oil prices. This situation is compounded by record levels of oil stock releases, yet concerns about future supply continue to mount. Rising gas prices have been reported across various countries, especially high in the U.S., where prices have surpassed $3.50 per gallon. The conflict is causing a fuel crunch in Asia, resulting in four-day workweeks and school closures. Experts warn that this scenario could lead to the worst energy disruption since the 1970s, raising fears of stagflation and an economic crisis. The impact on consumers is growing, as costs at the gas pump surge and could have further consequences on grocery bills. Notably, Texas oil companies may profit from these disruptions while consumers bear the brunt of increased prices. Discussions around the implications of the war on energy markets and potential economic fallout are intensifying.