Gas prices to stay stable until July 4, despite the ongoing Iranian tensions

Gas prices They sit at the lowest level in four years such as cease-fire Between Iran and Israel, it reduces fears that conflict in the Middle East can disrupt global oil supplies.

The average price of a regular gasoline gallon was $ 3.20 on Friday, when oil prices remained, as before the tensions in the Middle East, it caused a “graceful” reaction in the market, according to industry experts.

On Saturday, American strikes caused US strikes on Saturday to rise in future oil contracts on Sunday evening, as oil climbed $ 78 a barrel. This quickly dissipated Monday, according to AAA.

The main shock in oil prices looming on the horizon, as the conflict threatens Iran, Iran, the global clip, the global shipment

Due to the lack of an oil supply disorder, oil prices are expected to remain under pressure due to the abundant supply, especially as Opec+ continues to increase production, according to President Lipow Oil Associates and Lipow.

The demand for demand for global oil remains dull, according to Lovo, who has estimated that the prices of the pump will remain relatively stable during the July 4 holiday, as it falls from 3 to 5 cents during the next week.

However, he expected California prices to rise as gasoline consumption increases from 59.6 to 61.2 cents per gallon on July 1.

The market believes that the risk of closing the main waterway, hormonal strait “, has decreased significantly, especially when the president is Donald Trump China said it can buy Iranian oil, which reduces the risk of attacks on oil facilities in the region. Iran has threatened to close the Shipping Strait after the United States strikes against Iranian nuclear installations.

The Persian Gulf straits with the Gulf of Oman and the Arab Sea. The waterway takes over the largest crude oil tankers in the world and is considered one of the most important oil selection points in the world, according to what he said Energy Information Management (EIA).

Exxonmobil CEO of oil supplies is talking amid Iran-Israel’s conflict

In 2024, 20 million barrels of oil flowed per day, or about 20 % of global petroleum fluid consumption, through the waterway. There are also very few alternative options to transport oil from the strait if closed, according to the measuring of the environmental environment.

If oil exports are affected by the strait, Lipow estimated that oil prices can easily reach $ 100 a barrel, which may raise gasoline prices by about 75 cents per gallon from the last levels. There were also predictions that oil could rise to between $ 120 and $ 130 a barrel. If so, gasoline prices will rise by $ 1.25 per gallon.

Meanwhile, Phil Flynn, the energy market analyst and the Fox’s trade company, inspired the Iranian nuclear program to remove a large amount of geopolitical risks from oil prices, noting that this “has appeared in gas prices.”

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Flynn also stated that the administration has created a more suitable environment, with Trump’s changing to the market turning towards more convenient lists. He pointed to more realistic plans to produce oil and potential acceleration of filtered permits, which he said may lead to long -term savings on gasoline prices.

“This will be a great victory for consumers as inflation continues,” he added.