US oil prices have now erased ALL losses seen under the Trump Administration, up +$23/barrel since December.
As markets begin pricing-in a longer disruption of crude oil supplies, US gas prices are surging.
Over the last 2 months, the average price of gas in the US has surged from $2.80 to $3.11, as of March 2nd.
Tomorrow, we expect to see gas prices above $3.20, up nearly +15% in 2 months.
The question now becomes:
How long can the world afford to keep the Strait of Hormuz closed?
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
It's official:
US oil prices have now erased ALL losses seen under the Trump Administration, up +$23/barrel since December.
As markets begin pricing-in a longer disruption of crude oil supplies, US gas prices are surging.
Over the last 2 months, the average price of gas in the US has surged from $2.80 to $3.11, as of March 2nd.
Tomorrow, we expect to see gas prices above $3.20, up nearly +15% in 2 months.
The question now becomes:
How long can the world afford to keep the Strait of Hormuz closed?