Oil and gas prices have jumped since the United States and Israel struck Iran last weekend, jolting energy markets that had grown complacent about Middle East risk. U.S. gasoline prices are surging, forcing the White House to weigh how to blunt the political fallout. Europe, just emerging from the shock of Russia’s invasion of Ukraine, faces another potential squeeze, with natural gas prices at their highest level since 2023. China, as the world’s largest oil and LNG importer, would seem the