The tension in the conflict in West Asia has once again raised concerns about the stability of global energy supplies when the world's most important oil trade route is affected.
This crisis has not only shaken the international energy market, but also caused gasoline prices in the United States to soar in a short period of time.
The situation has become increasingly tense after the joint attack by the United States and Israel on Iran, which Tehran then retaliated by closing the strategic Strait of Hormuz route.
The narrow but critical route is the main artery of world oil trade as almost a fifth of global oil supply passes through the area every day.
The closure of the route has caused tanker traffic to stop and affected oil shipments from major producers such as Saudi Arabia, Kuwait, the UAE and Iraq.
This supply disruption immediately had an impact on the global commodity market when the price of Brent Crude Oil jumped above $114 per barrel and reached around $120.
Market analysts have warned that oil prices could rise to $150 per barrel if the conflict continues and the main supply route is not restored in the near future.
The rise in crude oil prices has also had a direct impact on consumers in the United States.
Data from the American Automobile Association shows that the average price of gasoline has increased by around 16 percent in a week to $3.48 per gallon.
States such as California recorded the highest price exceeding $5 per gallon, thus adding to the cost pressure on the people.
The surge in energy prices has not only affected vehicle users, but also increased the cost of diesel for the logistics sector and jet fuel for the aviation industry.
This knock-on effect has the potential to increase the cost of transporting goods and ultimately affect the price of food and basic necessities.
At the same time, this situation has also raised concerns about inflationary pressures in the United States, as the Federal Reserve is still trying to lower the inflation rate to its two percent target.
If energy prices continue to rise, the effort could become more challenging and affect global economic stability.
US President Donald Trump, however, stated that the conflict may end in the near future after Washington claimed to have achieved its military objectives.
However, geopolitical uncertainty in the West Asian region continues to be the main factor that the world energy market is currently observing.
