Asks what actually matters for oil prices right now - is it just reopening the Strait of Hormuz?
Katie Greifeld
Angie Gilday
The sheer volume of supply from the Middle East (20M barrels/day) is critical. There are limited options if the strait is closed.
Asks if there are any policy levers to stop crude from moving higher.
Katie Greifeld
Angie Gilday
Strategic Petroleum Reserve releases are a tool, but only a temporary and short-term fix, not a substitute for 15M stranded barrels.
Asks how fast SPR oil flows into refined products.
Romaine Bostick
Angie Gilday
Takes roughly two weeks to get to market, and it's released incrementally.
Asks if reopening the strait means a quick return to normal.
Romaine Bostick
Angie Gilday
If the strait opens with confidence, market impact would be relatively short-lived, but there's a lot of uncertainty.
Asks for the link between higher oil prices and gas prices at the pump.
Katie Greifeld
Angie Gilday
Rule of thumb: For every $10 increase in oil, gasoline rises about 25 cents per gallon. Gas prices rise faster than they fall.