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Iran could retaliate against the U.S. strikes on its nuclear facilities by shutting down the Strait of Hormuz, a move that would likely cause oil and gas prices to surge.

Escalating U.S.-Iran tensions and the potential closure of the Strait of Hormuz have abruptly upended oil market forecasts, pushing Brent prices sharply higher.

Oil prices surged during late Sunday trading after the US launched strikes on three Iranian nuclear Saturday evening in a major escalation of the Iran-Israel conflict.

Oil prices eased off a 5-month high as expectations Iran won't close the Strait of Hormuz for now. But this may still change, they warned.

U.S. oil prices already jumped last week, which could cause prices at the pump to rise about 20 cents a gallon in the coming weeks, according to one estimate.

Israeli airstrikes on Iranian nuclear facilities immediately triggered a sharp reaction in global markets, sending oil, bonds, and gold rallying.

Konami is bringing back Metal Gear multiplayer with Metal Gear Solid Delta: Snake Eater, but don’t expect it to play like Metal Gear Online.

The industry is bracing for the OPEC Plus oil cartel’s meeting on Saturday, which is widely expected to further increase oil production despite weak demand.

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