Oil-price surge tests White House as energy markets reel from global conflict

1 min read
Source: Politico
TL;DR Summary

Rising oil and diesel prices driven by wars in the Middle East and Europe are squeezing consumers and constraining the White House’s options ahead of the midterms, with oil around $109 a barrel, diesel at a record $6.23 per gallon, and regular gas at $4.32. Disruptions include a Saudi pipeline outage, an Iranian proxy gaining hold at a key energy chokepoint, Ukrainian strikes on refineries, and Straits of Hormuz tensions, leaving the administration with few quick solutions.

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