April 20 (UPI) -- The market for oil is global, which is why events like the war in Iran affect oil prices -- and prices of the wide range of products made from oil -- literally everywhere. Federal data shows that the price at the primary crude oil hub in the U.S. was $66 a barrel in late February 2026 -- before the U.S. and Israel attacked Iran -- and $101 a barrel on April 13. Similar price increases have reverberated around the globe. As an energy economist and an international trade