Crude oil prices have surged to nearly $120 a barrel. This significant increase is attributed to the ongoing conflict in Iran, which is impacting oil production and shipping. The situation in Iran is affecting the global oil market, leading to higher prices.

Further information on this developing story is available from ABC13 Houston. For the most up-to-date information on the crude oil price spike and its causes, readers in The Woodlands, TX, can refer to the original report from ABC13 Houston.