articleThe Brief Crude oil prices dipped slightly amid a pause in attacks from the United States and Iran. Rising oil prices would likely affect goods shipped globally. Oil prices eased after the United States and Iran temporarily halted launching military strikes in the Persian Gulf. The Associated Press reported that oil prices soared in July as fighting intensified in the Middle East amid concerns that a return to all-out war would slow the global flow of crude oil. If oil prices continue to soar, The Associated Press reported that this may lead to higher prices for every good that gets shipped, including groceries.