Before the Iran war, the global economy consumed about 101 million barrels of oil a day. Brent crude is trading at over $100 a barrel.
Oil prices are down, and stocks are up, though such moves have been quick to change since the war in Iran began.
President Trump says his administration will tap the Strategic Petroleum Reserve to try and reduce gas prices that have risen due to the Iran war.
The conflict, now in its second week, is ensnaring countries and infrastructure critical to the production and transportation of oil and gas worldwide.
Surging oil prices jolted other financial markets, as share benchmarks in Japan and South Korea plunged more than 5%.
Prices at the pump are going up as a result of the war in Iran, including right here in Nevada.
AAA says Washoe County has the most expensive gas in Nevada.
Another refinery in California is set to close in April. It comes after one closed near Los Angeles in October.
There is a current power outage that's affecting west Reno residents.
Brandon Barkhuff previously served as Senior Vice President, General Counsel, Corporate Secretary and Chief Compliance Officer.