Oil and gas prices spike after U.S.-Israeli strikes on Iran Market analyst Bob McNally discusses the sharp rise in oil and gas prices, with the Dow Jones Industrial Average down. The conflict threatens shipping through the Strait of Hormuz, a vital waterway. NEW You can now listen to Fox News articles! Jet fuel prices in the U.S. have more than doubled in a matter of weeks as Middle East tensions squeeze supply, fueling concerns airlines could run short of fuel. Prices jumped from about $2.17