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The Latest Breaking News from Bob McNally

Trump says administration is weighing diesel export restrictions

A diesel export ban is gaining steam as a possible lever the White House can pull, without the need for congressional action, to help contain skyrocketing prices that are causing economic shock waves and becoming a midterm campaign headache for Republicans. President Donald Trump said Tuesday that he personally supports…

Roll Call

The global ‘freedom of the seas’ is dying in the Strait of Hormuz—and everyone, everywhere, will pay the tolls

Iran forcing a fee structure in the Strait of Hormuz may trigger a global domino effect.

Fortune

Iran wants a mafia-style ‘protection’ toll on the Strait of Hormuz, but the eye-popping $20 billion per year haul is a pipe dream

Details of any tolling or voluntary fee system are unlikely to be finalized in any potential interim deal, further delaying a permanent peace solution.

Fortune

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Why the US-Iran war continues to disrupt oil markets

The oil market is witnessing unprecedented volatility amid the intensifying US-Iran hostilities. Iran's surprising maneuver to shut down the critical Hormuz waterway has caught the attention of global investors. President Trump’s inconsistent remarks have also played a pivotal role in shaping market reactions. Despite the rise in crude prices, they…

The Economic Times

White House set to extend Jones Act waiver as Trump hunts for cheaper gasoline

The White House plans to extend a Jones Act waiver to reduce gasoline prices. This waiver increases shipping flexibility and eases transport bottlenecks for fuel. President Trump is increasing pressure on oil companies to lower prices for consumers. Critics argue the waiver benefits foreign operators and undermines domestic maritime interests.…

The Economic Times

'White House Set To Extend Jones Act Waiver As Trump Hunts For Cheaper Gasoline' - Reuters Exclusive

WASHINGTON/HOUSTON, Aug 4 (Reuters) - The White House is expected to extend a waiver of the century-old Jones Act in the coming days, sources say, reaching for one of the few tools it has to try and hold down gasoline prices as President Donald Trump escalates his attacks on Exxon…

Benzinga

Oil Has Topped $100 As The Iran War Escalates. Now Analysts Say Gas Prices Could Surge Even Higher

National average gasoline prices have already climbed above $4 a gallon, while crude oil has surged past $100 per barrel following weeks of escalating military action across the Middle East.

International Business Times

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Rising tempo of combat in battle for Hormuz threatens market's confidence that the worst is over on Iran. 'There's a lot of complacency'

U.S. forces carried out five rounds of attacks in the past week and three over the last 24 hours, signaling that the operational tempo is quickening.

Fortune

Gas prices are heading down - how long will it last?

The national average price of gas on Tuesday was $4.49 according to AAA

The Independent UK

High gas prices are just the beginning: How the Iran war is changing the global energy map

The largest global energy-supply shock in history is causing chaos around the world. Here are the winners and losers.

Fortune

Trump says he supports suspending US gas tax after prices remain high

President Trump supports suspending the federal gasoline tax amid surging prices driven by the Iran war, a move requiring congressional approval. Senator Hawley is introducing legislation for a 90-day suspension of both gas and diesel taxes. While some Democrats previously proposed a similar waiver, Senate leadership remains noncommittal, emphasizing reopening…

The Economic Times

'This is the last warning.' Iran threatens U.S. warships after they throw down the gauntlet for winner-take-all Strait of Hormuz

“One of the things that commercial ships were waiting to see was whether or not this strait was clear, and sailing two destroyers in is a big one.”

Fortune

Navy tests Hormuz blockade as expert says U.S. military prepares for round 2 and could degrade Iran’s hold over the strait to a ‘manageable level’

“I think the conditions for a real ceasefire and a reopening of the Strait of Hormuz, a full reopening, will be stronger later this month than they are right now.”

Fortune

The Iran war is either concluding with the world worse off, or escalation is just delayed again

Iran aims to control the Strait of Hormuz choke point for the foreseeable future with or without a ceasefire, experts said.

Fortune

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Fortune

Controlling the Strait of Hormuz is the top priority in Iran and Trump may abandon it. Here’s what that would look like

Ceding control of the Strait of Hormuz would represent a U.S. defeat worse than Vietnam, one critic said.

Fortune

Skyrocketing energy prices and inflation woes mount as the ‘absurd’ reality in Iran sinks in

Energy prices may jump to all-time highs soon as the Iran war escalates without a ceasefire or a clear victory.

Axios

Why oil prices aren't even higher after Iran strikes

Oil hasn't yet approached the $100-per-barrel — or higher — level that numerous market-watchers say is possible.

Fortune

Top energy expert says probability the U.S. will attack Iran soon is 75% as risk of major disruption to oil supply is priced in — 'this one is real'

“The markets are pricing the risk that this time the past will not indicate the future—that we could have a sustained disruption in energy flows.”

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news in one place.

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Fortune

Oil markets are too complacent as Israel is in 'three eyes for one eye' mode, expert says

“There may be tits for tats. The danger is the tits and the tats could get a lot bigger.”

StockNews.com

Gain Ground With 3 Energy Stocks With Potential Gains

Rising demand and supply shortages due to mounting geopolitical tensions are increasing oil prices. To capitalize on this, it could be wise to invest in quality energy stocks USA Compression Partners (USAC), Global Partners (GLP), and Cheniere Energy (CQP). Read on….

StockNews.com

3 Energy Stocks With Bullish Signals This Week

The escalating conflict in the Middle East is driving a surge in oil prices. The possibility of new U.S. sanctions on Iran could drive prices even higher. Against this backdrop, it could be wise to invest in robust energy stocks NCS Multistage (NCSM), NOW Inc (DNOW), and Ranger Energy (RNGR),…

Financial Times

The week that could unravel the global oil market

As western countries prepare to impose a price cap on Russian crude, many of the industry’s norms are being undermined

WEKU

An influential energy group sees reason for climate optimism

For the first time, the International Energy Agency projects that demand for fossil fuels will soon peak. It's nowhere close to the speed the world needs to stop climate change - but it's a big step.

Axios

Saudis plot energy cooperation with China amid tensions with Biden

It's "a clear rebuke aimed at Washington."

Axios

Democrats could lose their reprieve on gas prices

Pump prices are falling sharply, but they could rise again.

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