Oil and gas prices expected to surge after U.S. attack on Iran

HOUSE AND CONGRESSIONAL OFFICIAL. THE HOUSE AND SENATE. THE HOUSE AND SENATE BRIEFINGS WILL BE CLASSIFIED. HALLIE? HALLIE? >> GABE GUTIERREZ AT THE WHITE HOUSE. WHITE HOUSE. THANK YOU. WE ARE ALSO WATCHING THE. THANK YOU. WE ARE ALSO WATCHING THE MARKETS TONIGHT WITH OIL. WE ARE ALSO WATCHING THE MARKETS TONIGHT WITH O OIL PRICES NOW SURGING AFTER THE. MARKETS TONIGHT WITH OIL PRICES NOW SURGING AFTER THE ATTACK. ATTACK. CHRISTINE ROMANS IS MONITORING THIS FOR US. CHRISTINE ROMANS IS MONITORING THIS S FOR US. CHRISTINE, WHAT ARE WE. CHRISTINE, WHAT ARE WE SEEINGNG? >> YEAH, BIG REACTION SO FAR. SEEING? >> YEAH, BIGIG REACTION SO FAR HERE, HALLIE. >> YEAH, BIG REACTION N SO FAR HERE, HALLIE. OIL PRICES SURGING AS WORLD. HERE, HALLIE. OIL PRICES SURGING AS S WORLD MARKETS ARE GETTING THEIR. MARKETS ARE GETTING THEIR FIRST CHANCE TO REACT TO THOSE STRIKES ON IRAN. FIRST CHANCE TO REACT TO THOSE STSTRIKES ON IRAN. WHAT HAPPENS IN THIS REGION, THOSE STRIKES S ON IRAN. WHAT HAPPENS IN THIS REGION, OF COURSE, IS CRITICAL FOR. OF COURSE, IS CRITICAL FOR THE PRICE OF OIL AROUND THE WORLD. THE PRICE OF OIL AROUND THE WORLD.D. IRAN IS AN OIL PRODUCER, A. WORLD. IRAN IS AN OIL PRODUCER, A BIG OIL PRODUCER, BUT BECAUSE.

IRAN IS AN OIL PRODUCER, A BIG OIL PRODUCER, BUT BECAUSE OF PUNISHING SANCTIONS M MOST. BIG OIL PRODUCER, BUT BECAUSE OF PUNISHING SANCTIONS MOST OF ITS OIL GOEOES TO CHINA, BUT. OF PUNISHING SANCTIONS MOST OF ITS OIL GOES TO CHINA, BUT MORE IMPORTANTLY HERE, THE. OF ITS OIL GOES TO CHINA, BUT MORE IMPORTANTLY HERE, THE STRAIT OF HORMUZ IS THAT. MORE IMPORTANTLY HERE, THE STRAIT OF HORMUZ IS THAT CRITICAL PASSAGEWAWAY. STRAIT OF HORMUZ IS THAT CRITICAL PASSAGEWAY. HALLIE, 20% OF THE WORLD'S. CRITICAL PASSAGEWAY. HALLIE, 20% OF THE WORLD'S OIL PASSESES THROUGH THERE. HALLIE, 20% OF THE WORLD'S OIL PASSES THROUGH THERE EVERY DAY. OIL PASSES THROUGH THERE EVERY DAY. >> CHRISTINE, CAN'T TALK. EVERY DAY. >> CHRISTINE, CAN'T TALK ABOUT OIL PRICES W WITHOUT ALSO. >> CHRISTINE, CAN'T TALK ABOUT OIL PRICES WITHOUT ALSO TALKING ABABOUT GAS PRICES. TALKING ABOUT GAS PRICES. WHAT IS THE EXPECTATION ON THAT FRONT HERE AT HOME? WHAT IS THE EXPECTATION ON THAT FRONT HERE AT HOME? >> YEAH, SPIKING OIL P PRICES. THAT FRONT HERE AT HOME? >> YEAH, SPIKING OIL PRICES WILL TRANSLATE INTO HIGHER. >> YEAH, SPIKING OIL PRICES WILL TRANSLATE INTO HIGHER PRICES AT THE PUMP FOR. WILL TRANSLATE INTO HIGHER PRICES AT THE PUMP FOR AMERICAN DRIVEVERS. PRICES AT THE PUMP FOR AMERICAN DRIVERS. A $1 RISE IN CRUDE OIL PRICES.

AMERICAN DRIVERS. A $1 RISE IN CRUDE OIL PRICES MEANS 2.5 CENTS FOR A GALLON. A $1 RISE IN CRUDE OIL PRICES MEANS 2.5 CENTS FOR A GALLON OF GAS. MEANS 2.5 CENTS FOR A GALLON OF GAS. IT COULDLD BE UP TO 25 CENTS. OF GAS. IT COULD BE UP TO 25 CENTS MORE MORE A GALLON OF. IT COULD BE UP TO 25 CENTS MORE MORE A GALLON OF GASOLINE. MORE MORE A GALLON OF F GASOLINE. THE HIGHER PRICES AT THE PUMP. GASOLINE. THE HIGHER PRICES AT THE PUMUMP COULD HAPPEN IN A MATTER OF. THE HIGHER PRICES AT THE PUMUMP COULD HAPPEN IN A MATTER OF DAYS, HOW LONG THEY LAST. CT. DAYS, HOW LONG THEY LAST DEPENDS ON HOW THIS CONFLICT PLAYAYS OUT. DEPENDS S ON HOW THIS CONFLICT PLAYS OUT. AS THIS CRISIS UNFOLDS. AS THIS CRISIS UNFOLDS SEVERAL MAJOR SHIPPING COMPANIES HAVE TOLOLD US. SEVERAL MAJOR SHIPPING COMPMPANIES HAVE TOLD US THEY'RE HOLDING THEIR SUPER. THEY'RE HOLDING THEIR SUPER TANKERS OUTSIDE OF THE STRAIT, THEY'RE DROPPING. TANKERS OUTSIDE OF THE STRAIT, THEY'RE DROPPING ANCHOR ON N DOZENS OF SHIPS. STRAIT, THEY'RE DROPPING ANCHOR O ON DOZENS OF SHIPS. ALSO TONIGHT THE GROUP OF. ANCHOR ON DOZENS OF SHSHIPS. ALSO TONIGHT THE GROUP OF COUNTRIES KNOWN AS OPEC PLUS.

ALSO TONIGHT THE GROUP OF COUNTRIES KNOWN AS OPEC PLUS SAYS IT'S GOING TOTO AGREE TO A.