As Middle East energy security breaks down, gas prices are creeping up and diesel is hitting record highs – driving inflation in the U.S. and around the world. With the help of Dow Jones Energy's Andy Critchlow we'll look at the historic disruptions battering energy supply chains in and around the Persian Gulf. And WSJ reporters Benoît Morenne and Konrad Putzier explain why dwindling strategic reserves and a narrow spectrum of politically-palatable government interventions mean relief likely isn't coming anytime soon. Luke Vargas hosts. Further Reading The New Offensive Raising Oil Prices and Complicating Trump’s Iran War How Energy Is Driving Inflation—and How It’s Not Oil Executives Say the Great Fuel Crisis Is Here Record Fuel Prices Pose Fresh Challenge for Trump Ahead of Midterms What Is Saudi Arabia’s East-West Pipeline and Why Is It Rocking Oil Markets? Is Fuel-Export Ban Trump’s Last Option to Ease Prices? How It Could Work Why Trump’s Venezuela Oil Grab Is No Quick Fix for Gas Prices ‘Refine, Baby, Refine’ Is the Energy Industry’s New Mantra Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

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“What did the council decide on item 42?” — answered with the speaker and the moment.