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While there were southern border skirmishes with Pancho Villa at the Battle of Ambos Nogales during World War I, there hasn't been all-out war on U.S. mainland soil since the Civil War.But while the devastation of the latest war is again occurring on foreign soil, Americans are paying at the pump as the latest barrage of missiles hits the biggest oil producers in the world.The U.S. and Israel launched strikes against Iran over the weekend, and Iran retaliated with its own strikes.At first, the stated U.S. rationale for the attack was to stop Iran's nuclear ambitions. However, many pointed out that the Trump administration said last year that the U.S. and Israel had already "obliterated" Iran's nuclear capacity.Israeli officials at the time did not agree with the "obliterated" adjective, but the Israel Atomic Energy Commission and IDF Chief of Staff Lt. Gen. Eyal Zamir both agreed that the attacks set Iran's nuclear ambitions "back by years, I repeat, years."Well, just seven months later, they are back bombing Iran, but this time the objective is less clear and has constantly shifted, The Washington Post reported.Iran's retaliatory attacks on the Gulf states and its closure of the Strait of Hormuz sent gas prices soaring on Tuesday, March 3.Ras Tanura Refinery in Saudi Arabia was badly damaged by Iranian drone and missile strikes. Photo by Maxar on Getty Images · Photo by Maxar on Getty ImagesIf you were smart enough to get your gas on Monday, March 2, you saved a lot of money because the price of a gallon of petrol jumped 11 cents overnight, rising to $3.11 per gallon on average, per AAA and as reported by the Associated Press.This represents the largest one-day increase since Hurricane Katrina in 2005.Related: What happens to oil prices if bombs and bullets fly in IranCrude oil futures trading on the COMEX were up 8.1% Tuesday to $77 a barrel. Over the past five days, the average price for a barrel of crude was $68.57. Over the past month, it was $65.12, and over the past three months, the average cost of a barrel of crude oil was steady at $61.Iranian oil is already heavily sanctioned by the U.S, and as of this year, China buys more than 80% of the estimated 1.9 million barrels of crude Iran ships out daily, Reuters reported.So the spike in price isn't from the attacks on Iran; rather, it stems from Iran's response to the attacks. Iran has targeted the oil infrastructure of the Gulf states that house U.S. military bases, where up to 40,000 troops are stationed in the region, according to NPR.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P Futures6,870.25 -5.75 (-0.08%)Dow Futures48,681.00 -115.00 (-0.24%)Nasdaq Futures25,109.25 -19.00 (-0.08%)Russell 2000 Futures2,628.70 -8.90 (-0.34%)VIX21.39 +0.24 (+1.14%)Gold5,177.10 +42.40 (+0.83%)Trending tickersAVGO Broadcom Inc. 317.53 +3.69 (+1.18%)TTD The Trade Desk, Inc. 25.17 +0.17 (+0.68%)ETH-USD Ethereum USD 2,148.64 +78.27 (+3.78%)ZM Zoom Communications, Inc. 78.02 +4.52 (+6.15%)HOOD Robinhood Markets, Inc. 82.21 +6.14 (+8.07%)PortfolioSign in to access your portfolioSign inTop gainersSTVN Stevanato Group S.p.A. 17.50 +2.77 (+18.81%)GLXY Galaxy Digital 24.34 +3.66 (+17.70%)MRNA Moderna, Inc. 57.80 +7.97 (+15.99%)SSRM SSR Mining Inc. 33.26 +4.33 (+14.97%)COIN Coinbase Global, Inc. 208.93 +26.57 (+14.57%)Top losersIBRX ImmunityBio, Inc. 9.00 -1.00 (-10.00%)EMAT Evolution Metals & Technologies Corp. 8.51 -0.70 (-7.65%)FROG JFrog Ltd. 39.19 -3.05 (-7.22%)BF-B Brown-Forman Corporation 26.26 -1.87 (-6.65%)AXTI AXT, Inc. 39.13 -2.63 (-6.30%)Most activeNVDA NVIDIA Corporation 183.04 +2.99 (+1.66%)PLUG Plug Power Inc. 2.4800 +0.2500 (+11.21%)ONDS Ondas Inc. 10.51 +0.49 (+4.89%)INTC Intel Corporation 45.58 +2.48 (+5.75%)NOK Nokia Oyj 8.15 +0.08 (+0.99%)Top economic eventsEarnings eventsMy earnings eventsEarnings events