From Yahoo Finance · · 1m 10s
Oil Prices Near $100 as Market Chaos Intensifies
Oil prices hover near $100 amid Middle East supply shock and potential export bans.
In brief
Oil prices hover near $100 amid Middle East supply shock and potential export bans. Oil prices remain near $100 per barrel as Middle East supply shocks trigger fears of a Trump administration diesel export ban ahead of midterms. Originally reported by Yahoo Finance.
Oil prices near $100
Oil prices remain close to $100 per barrel with no resolution in the Middle East.
Analyst warns of diesel export ban
Liz Thomas, chief market strategist at SoFi, says odds of diesel export ban before midterms are high.
Diesel prices hit record high
National diesel average at $6.39 per gallon, with California prices above $8.34 per gallon.
Market analysts call it a hot mess
Charlie McElligott of Nomura Securities says oil market is a hot mess and 'waking up' to energy shock 2.0.
“The Oil market is a hot mess”
Trump administration faces pressure
Strategists say China refilling reserves could force Trump administration to impose diesel export ban ahead of midterms.
Export ban risks higher prices
Refineries would produce less gasoline and jet fuel, causing shortages and higher pump prices.
“Shortages would develop in those product categories, and I would expect higher prices at the pump”
The one thing
Oil prices remain near $100 per barrel as Middle East supply shocks trigger fears of a Trump administration diesel export ban ahead of midterms.
