Oil Executives Warn of Price Spike as Hormuz Strait Disruption Looms
TL;DR Summary
Oil-industry executives warn gas prices could spike again as Iran closes the Strait of Hormuz, potentially cutting up to a fifth of global crude supply. They say stockpiles are dangerously low, with Exxon and Chevron warning prices could reach $150–$160 a barrel, while the White House denies discussions about inventories and polls show mounting political pressure over rising fuel costs ahead of the midterms.
- Dire Warning to Trump About Major Price Spike Exposed The Daily Beast
- Oil industry warns Trump administration of price spikes within weeks Politico
- Plunging global oil supplies threaten to push fuel prices even higher The Washington Post
- The Oil Market Is Near a Tipping Point WSJ
- Exxon chief warns of skyrocketing energy prices as shareholders approved plan to exit blue state Fox Business
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