Oil prices jumped over 2% on Tuesday as escalating Iran-Israel conflict stoked fears of supply disruption in the Middle East.

U.S. consumer prices rose slightly in May as gasoline prices remained subdued, but inflation is likely to pick up in the months as tariffs boost the cost of imported goods.

The non-panic owes to ample global supply, and it’s a lesson for Congress and the Trump Administration as they contemplate putting new sanctions on Russian oil exports.