Oil executives warn of global fuel crisis amid Hormuz closure
pre-market1 source ↓written by the desknot a recommendation
- with crude nearing
- $101 per barrel
Oil executives, including Chevron chief Mike Wirth, have declared a global fuel crisis as the Strait of Hormuz closure depletes fuel stocks. Diesel and petrol prices have surged, with crude nearing $101 per barrel. This tightening market indicates a more acute supply squeeze, raising concerns over policy uncertainty.
Not investment advice. For informational purposes only.