Oil prices rise after conflict in Iran disrupts global supply

A conflict in Iran has disrupted the global oil market, causing prices to rise. The situation has constrained supply, pushing U.S. oil prices up by nearly $3 and causing gasoline prices at U.S. pumps to surpass $3.50 a gallon.

Despite the increase in oil prices, the U.S. stock market has remained calm. However, the volatility has impacted specific funds, with the Pimco Commodity Fund slumping 17% in March as the conflict upended oil markets.