Episode Details

Oil prices skyrocket to over ninety dollars a barrel, marking a historic one-week surge, as Trumps measures fail to alleviate market anxieties over the Strait of Hormuz. Despite U.S. strikes on Iran, tankers still bypass the strait, which handles twenty percent of global crude daily. Irans attacks and Iraq, Kuwaits production cuts due to market access issues, exacerbate the situation. Gas prices surge thirty-two cents a gallon nationwide, with analysts warning of potential two hundred dollar a barrel prices if disruptions persist, leading to a fifteen million barrels a day shutdown after three weeks. The White Houses sanction easing, naval escorts, and insurance offerings for tankers provide limited relief, as shipping firms remain cautious amid security risks. Energy officials predict relief in weeks, not months, due to record U.S. output and new Venezuelan supplies, but reopening the strait depends on conflict resolution.

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