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Crude oil prices jump over 50% amid US-Iran conflict, experts advise calm and smart spending.

Market News
13 Apr 2026
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Bearish
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Since the US-Iran war began on February 28, crude oil prices have surged over 50%, reaching $102 per barrel by mid-April 2026. This spike has pressured markets, with the S&P 500 nearly flat and major indexes down over 10% from highs. Experts like Suze Orman and Dave Ramsey urge investors to stay calm, avoid panic selling, and focus on disciplined budgeting to manage higher gas costs without harming long-term finances. The conflict near the Strait of Hormuz has tightened global oil supply, causing rapid price increases that impact household budgets and consumer sentiment. The advice is to protect emergency funds and retirement contributions while adjusting spending wisely during this volatile period.

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