Why oil near $95 is pushing gas back to $4 a gallon
Eleven straight nights of U.S. strikes on Iran have erased any calm in energy markets
Oil markets no longer believe this ends quietly. Brent crude has climbed near $95 a barrel, a level traders had not priced for weeks. The consensus bet had been de-escalation. That bet is failing.
The first evidence is duration. U.S. strikes against Iran have now run for 11 consecutive nights, according to CNBC reports, a stretch long enough to shift how traders model risk premium into every barrel.
The second is speed. Oil rose almost 4% on Wednesday alone, touching a six-week high, and the weekly move has topped 15%. That pace matters more than the level itself. Markets that move 15% in a week are pricing genuine uncertainty, not routine supply noise.
The third is the pass-through to drivers. Gas prices have hit $4 a gallon, a direct line from crude to the pump that consumers feel immediately. Secretary of State Marco Rubio added to the move by saying Iran is
