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Global crude prices jumped on Sunday but have since retreated. Here's what experts say about the outlook for oil and gas.

Iran could retaliate against the U.S. strikes on its nuclear facilities by shutting down the Strait of Hormuz, a move that would likely cause oil and gas prices to surge.

JPMorgan says there's about a one in five chance that disruptions to oil production in the Persian Gulf send prices spiraling higher.

Oil prices jumped to a five-month high in Asia on Monday in their first trading day after the US struck Iran's nuclear facilities on Sunday.

Iran’s parliament has voted to close the Strait of Hormuz, the vital shipping channel through which around 20% of the world’s daily oil flows.

Oil prices surged during late Sunday trading after the US launched strikes on three Iranian nuclear Saturday evening in a major escalation of the Iran-Israel conflict.

The average return on the stocks is negative for the week and month after geopolitical conflicts. The economic risk is higher oil prices, a headwind to global growth.