The United States remains the world's top oil producer, pumping 13.6 million barrels of crude oil per day in 2025, yet Americans continue to face high gasoline prices. This paradox stems from oil being a globally traded commodity, where buyers compete for the same supply regardless of origin. As Moody's Analytics chief economist Mark Zandi explained, "Oil literally flows to the highest price," meaning U.S. producers sell to whoever offers the best price, including international buyers. Recent U.S.-Iran military strikes escalated fears about oil supplies through the Strait of Hormuz, causing Brent crude to surge 3.8% on July 14 to $85.92 per barrel. The conflict disrupted Middle Eastern supplies, affecting Asian and European markets heavily dependent on the region, which in turn pushed global prices higher and raised U.S. fuel costs.