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Local impacts of tensions with Iran

Posted at 6:55 PM, Jan 08, 2020
and last updated 2020-01-08 19:55:13-05

BROWN COUNTY, Wis. (NBC 26) -- Experts say depending on what happens with the tensions with Iran, we could see the ripple effects of the situation right here in Northeast Wisconsin.

Patrick DeHaan, the Head of Petroleum Analysis with GasBuddy said oil prices are on par with what they were about a week ago. He added that there's been minimal impact on prices, and he doesn't expect that to change.

Although, if things were to escalate and either country targeted an oil infrastructure, DeHaan said, we could see oil prices rise. He added that is the big issue that could have a major influence on us here in the United States.

Right now, though, he added oil prices are on par with what they were about a week ago. He said there's been minimal impact on prices and he doesn't expect that to change.

When it comes to money and investments, Doug Gjerde, a managing partner and wealth adviser at Heritage Financial, said he doesn't believe people should be too concerned at this point. After Tuesday night's dip in the stock market after news of the missile attack, Gjerde said it's back up.

"Nobody's been too nervous yet, so I mean, we're back up to all time highs again the market today, so it really depends on how long this takes and how deep it goes," said Gjerde.

He also said it might get bumpy in the short term, but he believes the best things to do right now is stay the course for the long term.