Higher oil and gas prices coming soon, industry and analysts warn

Energy giants warn another oil price spike coming soon

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Oil industry warns Trump administration of price spikes within weeks

Industry executives said the loss of oil through the Strait of Hormuz is draining petroleum inventories to dangerously low levels.

WHEE! Oil Prices Will Surge In Coming Weeks Due To Hormuz Backup

The oil industry has warned the Trump administration that a Hormuz-sized hole in the world’s petroleum market is steadily draining inventories to levels that are likely to send global energy prices surging in the next several weeks, according to Politico. Industry executives told senior White House officials and Cabinet members in recent weeks, the people said. The warnings came as recently as late last month as data from the U.S. Energy Informa…

Oil industry warns Trump about gas price SHOCK coming soon: Report

The White House denies the report and touts the president's efforts to lower gas prices.

Everyone’s Watching Gas Prices. The Fuel That Could Actually Break the Economy Is the One Almost No One Talks Abou

Summary and Key Points: Here’s a thought experiment one national security analyst can’t shake: what if the Strait of Hormuz simply stays closed — not for weeks, but until Christmas? For a month or two, reserves and rerouting paper over the damage. After that, the buffers run dry — and analysts say America hits that wall right around its 250th birthday on July 4. From there, the scenario gets stranger than a gas crisis. The fuel that does the rea…

Higher oil and gas prices coming soon, industry and analysts warn

Energy executives and analysts are warning that oil and gas prices will likely rise significantly as the Strait of Hormuz remains closed and stubborn demand burns through strategic reserves.