In the middle of all this, we had a viewer asking, since we haven’t bought oil or gas from Iran in 25 years, why would the war affect gas prices in the United States?

The contained move in oil prices during the Israel-Iran war highlights the increasing efficiency of energy markets and fundamental changes to global crude supply, suggesting that Middle East politics will no longer be the dominant force in oil markets they once were.

The average return on the stocks is negative for the week and month after geopolitical conflicts. The economic risk is higher oil prices, a headwind to global growth.