When oil prices could get even worse
Oil prices are currently lower than many predicted, but this stability is precarious and relies heavily on the Strait of Hormuz reopening soon. Analysts warn that if the strait remains closed through the summer, dwindling global oil inventories could lead to significant price spikes, potentially reaching $130-$150 per barrel by Labor Day and even higher if the conflict extends into 2027. This situation poses a risk to economic stability and could cause a resurgence in gasoline prices ahead of the midterm elections. AI
