Four years ago, Russia attacked Ukraine, and oil shot up 50% in a matter of weeks, north of $100 a barrel. Gasoline quickly rose from around $3.50 to $5 a gallon.
That war put 3 million barrels a day of Russian crude at risk.
The war with Iran stopped the flow of 20 million barrels of oil from across the Middle East almost instantly.
Yet oil prices rose just 6% Monday, and gas prices aren’t expected to get close to $5 a gallon anytime soon. On Tuesday, oil rose another 7% to around $76 a barrel, and gas shot 11 cents higher to