Iran Attacks US Forces, Oil Prices Surge
Iran launched ballistic missiles at US forces in the Middle East. This happened on Wednesday.
Jordan and the United States shot down the missiles. Global oil prices rose sharply after the attack.
Prices jumped between 4% and 7%. Oil passed $88 a barrel.
President Trump said the United States would launch heavy strikes on Iran. He called it retaliation.
Trump vowed to give Iran a beating. His warning also helped push oil prices higher.
Klear Note — Oil prices rise when conflict threatens Middle East supplies. Most global oil comes from that region. Higher oil prices affect gas costs at pumps worldwide.
Key Terms 3
- ballistic missiles Powerful long-range weapons that fly high before hitting their target.
- barrel A standard unit used to measure and price oil.
- retaliation Striking back after being attacked.