Oil prices expected to rise after Iraq attack

The U.S. struck back at Iranian-backed militants in Iraq as tensions from the Israel-Hamas war continue to spill over into the Middle East.

This morning, the US strike smack at Iranian backed militants in Iraq as tensions from the Israel Hamas war continue to spill into the Middle East. President Joe Biden authorized the move after a Christmas Day drone attack on us. Troops in northern Iraq struck three leaving one critically injured.

Here’s some of the damage from the three locations hit in the US retaliatory strikes which was condemned by the Iraqi Prime Minister in a statement, this is very prevalent amongst the Iranians. It’s how they conduct business and it’s very messy because they’re using forces that sometimes don’t actually take direct orders.

But ultimately, it’s to push back against the influence of the United States. There’s still about 3500 US troops in Iraq and Syria to prevent a resurgence of ISIS. And the Pentagon estimates more than 100 attacks against us personnel in the region since the start of the Israel Hamas War.

In a statement, Secretary of Defense Lloyd Austin saying he and President Biden will not hesitate to take necessary action to defend the United States, our troops and our interests. There is no higher priority. It comes as a key shipping route in the Red Sea

Has also been attacked for at least the 16 th time. Despite the recent formation of a new American led naval patrol group in the region, the US blames Yemen’s Houthi rebels by Iran for these continued attacks. Meanwhile, investors are keeping a close eye on oil and gas prices.

Now on the rise, as are shipping costs, oil prices are up more than 2% in the last 24 hours. And in the last week, gas prices are up six cents per gallon nationwide. But up, as much as 16 cents in Florida

Still prices at the pump are down nearly $2 over last summer’s peak according to AAA. To show the extent of the problem, us forces in the Red Sea say they shot down 17 drones and missiles fired by rebels in Yemen yesterday alone in Washington Liz Landers ABC News.