Camilla Dominovsky
👤 SpeakerAppearances Over Time
Podcast Appearances
Dan Pickering is the chief investment officer at Pickering Energy Partners.
Tapping stockpiles and easing U.S.
sanctions only partly fills the gap.
And waiving the Jones Act, which mandates goods traveling between U.S.
ports be sent on American-built ships, might ease gasoline prices by a penny or less.
A lot of analysts expect these prices to go up.
And if anything, it's surprising that prices weren't much higher than this much sooner.
The flow of traffic through the Key Waterway, the Strait of Hormuz, that dried up more than a week ago.
The Strait of Hormuz, a key waterway for the oil trade, remains effectively closed.
government has offered shipowners insurance and naval escorts for the passage, but the money available would only cover a fraction of the need, and companies are wary of risking ships and the lives of their crew.
Attacks against infrastructure also continue, including Israel's attacks on oil facilities in Tehran over the weekend.
An analyst with the AppGasBuddy says the average price of gasoline in the U.S.
It was under $3 before the war began.
Iran itself still produces and exports oil despite U.S.