The latest war between the U.S. and Israel escalated after the United States and Israel launched strikes against Iran over the weekend, which Iran retaliated with its own strikes. The attacks were initially aimed at stopping Iran's nuclear ambitions, but this time the objective has since changed. The price of gas prices rose on March 3, marking the largest one-day increase since 2005. Crude oil futures trading on the COMEX were up 8.1% to $77 a barrel, with the average price for a barrel of crude being $68.57 over the past five days and $65.12. The closure of the Strait of Hormuz, which provides more than 20% of global oil transport, has also contributed to the increase in gas prices. However, Goldman Sachs expects Brent crude to trade between $80 and $90 over this week and Goldman Sachs estimates that the situation will escalate to $70 if the situation is deescalated.