The Strait of Hormuz sees roughly 20% of the world’s oil flow through it, and tankers are stalled on both sides of the narrow chokepoint amid suspected Iranian drone attacks, rattling oil markets. Mike Sommers, president and CEO of the American Petroleum Institute, joins “The Takeout” with analysis. Source link
With oil exports through the Strait of Hormuz halted, the International Energy Agency is meeting with G7 countries about whether they should tap their strategic petroleum reserves. CBS News reporter Kati Weis is following the debate. Source link
Gas prices are surging across the U.S., with motorists paying about 20% more per gallon than before the start of the U.S. war with Iran. Experts say one option that could help tame prices at the pump is tapping the Strategic Petroleum Reserve, the nation’s emergency oil stockpile designed to cushion supply shocks. The average price per … Read more
Biden’s unprecedented oil drawdowns damaged U.S. storage sites. Source link