Energy executives say the world is weeks away from oil hitting $150 per barrel, with government and private industry reserves depleted
Energy executives say the world is weeks away from oil hitting $150 per barrel, with government and private industry reserves depleted
Iranians drive past a billboard featuring US President Donald Trump and the Strait of Hormuz, erected in Valiasr Square in Tehran, Iran, on 28 May 2026 (AFP)
Published date: 28 May 2026 22:04 BST
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Last update: 7 sec ago
The oil price reached nearly $120 a barrel on Monday over fears of lengthy disruption to supplies.
US President Trump meets with oil firms over ways to minimise impact on fuel supplies amid US blockade of Iranian ports.
Energy experts say years of weak investment in new oil supply, combined with the prolonged Hormuz disruption, could push Brent…
Executives from the largest US energy companies warned on Thursday that oil prices are likely to spike this summer, as the…
Oil prices could top $130-$140 a barrel next month if the strait remains closed and inventory depletion rates remain steady,…
Oil markets spooked as Donald Trump appears willing to maintain the US Navy blockade and Iran keeps strait of Hormuz all but shut
