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What Israel-Iran Fighting Could Mean for Oil Prices and Inflation

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Oil futures soared on Friday after Israel attacked Iranian nuclear facilities and Iran retaliated.

The violence raised concerns that a larger conflict could disrupt global oil supplies.

Gasoline prices were down 12% year-over-year in May , one of the primary reasons inflation ran just slightly above the Federal Reserve's 2% target.

Analysts say an escalation that meaningfully disrupts oil trade is unlikely.