Oil prices rose sharply Friday on news that a ship under contract to the U.S. Defense Department fired warning shots at two boats in the Persian Gulf. Retail gas prices as expected rose further into record territory, nearing $3.60 a gallon

The news was enough to send light, sweet crude for June delivery up to $119.55 before the contract retreated to settle up $2.46 at $118.52 a barrel on the New York Mercantile Exchange

Yes, I heard about this happening this morning when I was cleaning. They keep taunting the U.S. and this isn't the first time that this has happened. Another engagement like this could very well send gas prices skyrocketing-the threat of another skirmish (war)-I hate to think about it, but I guess we'll have to deal with it when/if it comes.

I haden't heard about this untill now. jeez thats insane.

sources please.