Analysis:Global Oil Inventories Depleted, Next Price Spike Could Roil Economies, Markets

Analysis:Global oil inventories depleted, next price spike could roil economies, markets

HOUSTON/NEW YORK, June 5 : Global oil inventories are running dangerously low as a deal to re-open tanker traffic through the Strait of Hormuz has proven elusive, and industry executives and analysts warn there could be another oil price shock in the coming weeks, severe enough to upset broader financial markets.

Oil Executives Warn White House Of Imminent Crude Price Spike As Global Inventories Hit "Tank Bottom"

The oil industry is sounding the alarm to the Trump administration that draining global petroleum inventories could send energy prices surging within weeks, according to four industry executives. Executives have flagged the issue to senior White House officials and Cabinet members in recent weeks as part of the administration’s ongoing dialogue with the U.S. energy sector. Iran has effectively closed the Strait of Hormuz since the U.S. and Israe…

Oil execs warn Trump that gas prices could spike due to dwindling supplies: report

President Trump and administration officials have insisted gas prices will come down as soon as the war ends, but there is no deadline in sight

Oil Industry Leaders Reportedly Warn Trump That Energy Prices Could Soar By The End Of The Month

Oil executives are warning the Trump administration that oil prices will likely surge in the next weeks as inventories continue to decrease with the Strait of Hormuz closed.

Top executives warn Trump that even worse price hikes are coming – and soon

At a time when voters are ready to hand Republicans a midterm revolt over the economy, Politico reported this week that top executives warned President Donald Trump that prices are about to get much worse if he does not solve the war in Iran.Trump remains embroiled in negotiations for a lasting ceasefire and resolution to the war, which he started, with Iran's new hardline leadership refusing his demands. As that situation continues to spiral, t…

Oil Inventories Hitting 'Dangerously Low Levels' And You're About To Pay The Price

Oil officials are reportedly sounding the alarm bell about low inventories. With the Strait of Hormuz closed, companies have been burning through existing stock. This is now drying up, which could cause energy prices to soar in a few weeks. Gas prices have been retreating as the national average has dropped to $4.22 per gallon. That’s down from $4.39 last week and $4.48 a month ago. Unfortunately, it appears the relief is only temporary. Acc…