The Countdown to a Major Oil Price Surge Has Begun
Global oil inventories are being rapidly depleted to offset lost supplies, raising fears that the world could soon reach operational limits that trigger severe shortages and much higher oil prices.
#2026 #Pumpkinwar
“You can debate whether that’s going to hit those really low levels in two weeks or three weeks.”
https://www.thestreet.com/economy/exxon-ceo-delivers-blunt-message-on-oil-prices-economy
US Strategic Petroleum Reserve on pace to hit lowest level since the early 1980s later this month
Another 8 million barrels of oil were withdrawn from the US government's Strategic Petroleum Reserve last week, putting it on par with Biden-era lows.
Trump has only one real option to slash gas prices
The energy crisis is a financial nightmare for Main Street and a political nightmare for the White House.
Hormuz shutdown puts California on the brink of an oil crisis
The nation’s most populous state has long had its highest gas prices. Now it’s been cut off from the Middle East oil that helps sustain it
High Gas Prices Are Just the Start of a Much Deeper Energy Crunch
The disruption of the Strait of Hormuz is evolving from a price shock into a global supply crisis, with the U.S. buffered for now but unlikely to remain insulated.
Dan Stafford
