Oil prices in the U.S. and the rest of the world were diverging Friday. That’s unusual, but the bigger picture is that prices are significantly higher than they were a week ago. West Texas Intermediate futures,

Oil prices climbed over 4% on Tuesday as the Iran-Israel conflict raged with no end in sight, though major oil and gas infrastructure and flows have so far been spared from substantial impact.

Despite the recent rise in retail gas prices, today’s statewide average in Texas remains lower than this time last year. AAA Texas reports that crude oil prices have increased by $9 per barrel over the past week.