The price is so high because the market is afraid.
That is, certain groups are going around now, irresponsibly talking about nuclear war and trying to drum up support for an attack on Iran; the market (correctly) fears that this could lead to WWIII.
"That is, certain groups are going around now, irresponsibly talking about nuclear war and trying to drum up support for an attack on Iran."
Yeah, and Iran is just sitting there trying to be a good world neighbor and otherwise minding it's own business.