Several buyers and sellers of Mideast crude say they are monitoring and evaluating the fast-developing situation.

The cost of crude oil affects everything from the price of food at the supermarket to how much it costs to fill up your car.

The price of oil surged after Israel launched a wave of strikes in Iran, killing the head of its army and raising the risk of war in the Middle East.

Several buyers and sellers of Mideast crude say they are monitoring and evaluating the fast-developing situation.

Israel’s strike on Iran, and Tehran’s subsequent retaliation fuel fears of Strait of Hormuz trade disruptions.