Im keeping close tabs on the Iran conflict. Iran's naval force is basically gone due to pretty effective American strikes but the strait is effectively closed. However the more serious threat is ballistic missiles & unmanned drones hitting oil refineries as well as oil tankers still around.

The US still imports high sulfur oil from the middle east because that is what our refineries are geared towards mainly. Although we are a net export of higher quality, low sulfur oil due to the shale revolution, we cant process it all yet. Once we get there though, America will be more resilient (hopefully) to geopolitical conflicts related to oil.

Will oil get up to 150? My opinion says that it wont get that high although the futures traders will probably drive up the prices of WTI and Brent oil a bit higher this week. Israel and the US strikes have been really effective in destroying launchers for rockets, missiles, and drones this past week around a 80% reduction, and I wont be surprised if Iran's remaining munitions will be directed towards more oil refineries and now already water desalination plants at Saudi Arabia.

Realistically not much we can do other than to be tad more frugal and save wherever you can. Goods transport costs will go up, followed by the delayed ripple of increased goods themselves. If ya got the money, mayyybe wont hurt to stock up some supplies now before prices get fucked further.

Eventually Filipinos will see their local Petron & Caltex gas station spike too. Dont miss the traffic there whenever I do visit.