In the United States, oil prices surged from roughly $65 to $100 per barrel in a matter of weeks, one of the steepest increases in decades.

Displaced people make their way back to their homes as they cross the bridge linking southern Lebanon to the rest of the country, which was hit earlier in an Israeli strike, after a 10-day ceasefire between Lebanon and Israel went into effect, in Qasmiyeh, Lebanon, April 17, 2026.
Credit: REUTERS/Louisa Gouliamaki