Crude Oil Prices Soar

U.S. crude oil prices just jumped over 7%, hitting $72 a barrel, and it’s no surprise why. The latest U.S.-Israel strikes that killed Ayatollah Ali Khamenei have thrown Iran into chaos, and it’s unclear who’s going to be in charge now. As the fourth-largest oil producer in OPEC, Iran’s instability is making investors nervous.

What’s Next for Iran?

It’s anyone’s guess who will ultimately govern Iran, but one thing’s for sure – the power vacuum is already having an impact on the oil market. And with the situation on the ground still unfolding, don’t expect things to settle down anytime soon.