What would happen to gas prices if war broke out between Middle Eastern nations?

Question

A large portion of the global gasoline supply comes from countries in the Middle East, primarily Saudi Arabia and Kuwait. What would be the potential impact on U.S. consumers and suppliers of gasoline if war broke out amongst Middle Eastern nations? Please explain.

Answer 1

About 1/3 of the production is in the middle east and but not all of it is shipped through the Persian gulf.  If the world lost 20% of the production  the world price would more than double. Some estimates  say that  as little as 10% loss of supply would double the price. The US has a strategic reserve that would replace imports for 45 days so a short war may not damage our economy too much. However an extended loss of production would cause a world wide recession.

Answer 2

Gas prices will initially rise and supplies in the US will become further constrained.

But if the US stay away from getting directly involved in the conflicts but supplies weapons and supports through missiles operations from the seas, US may be able to extract cheaper oil from the allies.