Oil prices rise after attacks in Middle East, how Oklahoma could be impacted
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By Sydnee Batzlaff
Published on March 3, 2026.
Oil prices have risen following the U.S. and Israeli strikes on Iran, killing its supreme leader, causing uncertainty in global energy markets. Runar Nygaard, professor, director, and Eberly Family Chair, Mewbourne School of Petroleum and Geological Engineering, The University of Oklahoma, says the concern is Iran's control over exports. If exports are disrupted, global supply drops, and the price per barrel of oil will rise. Nygaard suggests that for every $10 increase in crude oil prices, about a 25-cent increase in gas prices. However, while there are concerns among Oklahomans, Nygaard believes the U., with high oil and gas production, will not be particularly affected by this.
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