Steph Finley
speaker
26 appearances
1 recordings
1 series
first heard Jul 2026
last heard 23 Jul
Steph Finley’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.
Appearances
Well, the U.S.
strategic petroleum reserves are now down to around 300 million barrels.
By the time it hits 200 million barrels, the reserve will hit its operational minimums, which means you can't take more out.
Otherwise, you risk damaging the integrity of
of the caverns, which are actually salt caverns in Texas and Louisiana.
So the U.S.
has drawn down its reserves.
Those reserves aren't infinite.
And with that, we're looking at a further tightening of the oil market once those reserves can no longer be drawn from.
If the stockpiles stay depleted, then there's no longer a mechanism to cushion the crude prices.
Crude oil is one of the biggest inputs into gasoline prices, which are already at record highs as a result of the war.
And we could see that further adding pressure on those prices.
And so we'll expect to see higher crude prices, which will transfer into higher gas prices, which will add inflation into the US economy.
We're seeing oil refineries in the U.S.
step up to try and meet that demand from the global market.
The refineries in the Midwest and the Rockies are actually running at over 100% capacity to try and make up for the shortfall.
Some of them have even deferred maintenance, which opens the door for breakdowns.
And also with the refineries running so hot, there could be big disruption if something like a natural disaster, like a hurricane happens, which would spread into the global market and raise prices of the refined products like gas, jet fuel, and diesel.
There is still a shortfall.
Renewed hostilities between Washington and Tehran have choked supplies after the ceasefire has broken down.
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