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The Independent UK

Ariana Baio

Oil executives warn Trump that Iran war will cause gas prices to spike within weeks due to dwindling supplies: report

Oil Gas Prices Iran Donald Trump United States Taylor Rogers White House

Several oil industry executives have reportedly privately warned the White House that the ongoing closure of the Strait of Hormuz is straining global oil inventories and could lead to gas price spikes in the coming weeks.

For more than three months, Americans have been forced to confront high gas prices as a result of President Donald Trump’s war with Iran. The conflict has disrupted global oil production because Iran has effectively closed the Strait of Hormuz, through which roughly 34 percent of the world’s oil passes.

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