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Posted on 06/04/2026 9:50:35 AM PDT by Tolerance Sucks Rocks
The oil industry is warning the Trump administration that a Hormuz-sized hole in the world’s petroleum market is steadily draining inventories to levels that are likely to send global energy prices surging in the next several weeks, according to four executives.
Industry executives have flagged the issue to senior White House officials and Cabinet members in recent weeks as part of the Trump administration’s ongoing dialogue with the U.S. energy industry, the people said. The warnings came as recently as late last month as data from the U.S. Energy Information Administration and other sources began showing that fuel makers were increasingly relying on oil and fuel from their storage tanks to replace products no longer arriving from the Middle East.
"We’re at dangerously low levels already,” said one industry executive who was granted anonymity to discuss private conversations with the administration. “We have shared those concerns at the highest levels of government about what's coming in mid-to-late June. … I hope they are paying attention to inventories right now. You’re hitting tank bottom.”
Iran has effectively closed the Strait of Hormuz since the U.S. and Israel launched military strikes three months ago, kicking off what has become the biggest disruption in crude oil flows ever. Countries are drawing down supplies in their oil and fuel storage tanks to make up for the shortage of supply coming from the Middle East, but inventories are now running dangerously low and some companies and market analysts are sounding the alarm that a price spike could come later this month.
Some of the conversations have been general warnings while others have focused on tight inventories of specific fuel types in particular locations, such as jet fuel on the West Coast, a second person involved in the conversations said.
(Excerpt) Read more at msn.com ...
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You are a very lucky person, having gotten ready for such things long ago.
This has to do with a lot more than just Iran
The west coast has been facing a fuel crisis due to the implosion of California’s oil production and refinery systems
And Congress thinks we should just ignore Iran and go away. We’re actually fine...we’re exporting fossil fuels.
Not a surprise. Voters keep FAFO with these socialist Democrats, so California is not there to help stave off this crisis.
When Brandon drained the reserve the MSM cooed and marveled at how he was on the side of the people fighting the evil oil companies.
e.g. https://www.cnn.com/2022/03/30/politics/strategic-petroleum-reserve-release-oil-joe-biden/
In 2026 it’s dangerous, terrible, anti-customer, and even unnamed anonymous (read:fictitious — have you not seen this pattern?!?) executives go out of their way to tell the media about it.
Zero credence left for these presstitutes. No, less than that.
According to Lawson, one reason we’re doing that is to help keep countries in Europe from hitting tank bottoms. Madness. We should, to the best extent possible, just match supply with demand now. I don’t believe we can SPR our way out of this one, thanks in part to Biden draining the heck out of it before.
we should top off our own reserves before exporting another drop.
Agree
Hey, you wanna back that chart out to say 2020 so we can compare what Brandon did, or is it only helpful to anti-Trump propaganda if you scale the chart this way?
Here’s the numbers:
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=M_EP00_SAS_NUS_MBBL&f=M
Hovering mid-600s until 2022 then BAM straight down to 350 but that’s not political posturing in the face of money printing and laundering and fake green anti-oil policy.
... oh, but then if it was built from 390 back up then this relatively tiny 40k drop compared to 250k drained by Brandon looks like nothing ...
... never mind, let’s include some summary text that makes it read like Trump emptied it from 700s all by himself. Hurr durr.
And when Biden reduced our SPR, people here were apoplectic. Hypocrisy is often nonpartisan. (Although it is much more common on the left)
I believe Trump is happy to keep the Straights closed, possibly forever, if the IRGC still control Iran. Let them wither on the vine. Imagine a world where the strategic significance of the Persian Gulf, the mid-east and radical islam go to zero. That’s his vision
In practice, US refineries have increased their production of most valuable jet fuel and diesel - and are exporting it, mainly to EU, which is drawing down US petroleum and distillate stocks
Also, exports of Venezuelan crude have already jumped to 10+ year highs. Of course, we also have a surplus of natural gas
So overall, the US will be OK, although there will be big adjustments and pain in existing trade flows.
The real problems will be faced in Europe. And again, Trump doesn’t mind if the London/Davos globalists and marxists are taken down a few notches.
If there is a bright side to this coming s*** storm, that would be it.
Agreed.
Exactly, Commiefornians have only themselves to blame for this mess.
If you want to post a different chart, you are welcome to do so. I am not your Stepin Fetchit.
Israel can use proven Ukrainian methods to shut the Iranian oil industry down.
What should Trump do?
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