US Secretary of Energy Chris Wright argued that disruptions would be short-lived. 'Worst case, that's a few weeks. That's not months,' the US energy secretary told CNN. Oil and gas producers around the Gulf have meanwhile begun to decrease output, while Israeli strikes on fuel depots in Tehran have raised fears.

The price of a gallon of Brent oil has jumped by nearly 30% in a week as prospects of a longer war set in.

MARIETTA/NEW YORK : US retail gasoline and diesel prices are soaring as the US-Israel war with Iran constrains oil and fuel exports, which could be a political test for President…