Asks what could provide a ceiling for oil prices approaching $110.
Avril Hong
Sara Vakhshouri
Market resilience factors (multiple suppliers, China stockpiles) were overwhelmed by two major impacts: attacks on energy facilities and the effective closure of the Strait of Hormuz, forcing producers to cut output as storage fills.
Asks which Gulf nations are less vulnerable to strikes and can reroute crude.
Avril Hong
Sara Vakhshouri
Saudi Arabia has highest resilience due to Red Sea access. Strikes have intensified, targeting refineries and water plants, raising risks for all regional infrastructure.
Plays clip of U.S. Energy Secretary saying there is no oil shortage, just a fear premium. Asks if she agrees and how quickly U.S. shale can ramp up.
Haidi Stroud-Watts
Sara Vakhshouri
Agrees there is no physical shortage, but the problem is shipment security from the Strait of Hormuz. Higher prices and uncertainty incentivize investment in shale and Venezuela.