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Brent Jumps Past $94 and Gas Tops $4 as Hormuz Standoff Drags On
US News8 min

Brent Jumps Past $94 and Gas Tops $4 as Hormuz Standoff Drags On

Oil finished the week more than 5% higher after Bessent's economic-isolation comments, with Brent near $94 and the average US gallon of gas above $4 — up sharply from under $3 before the war. With Hormuz traffic still at a fraction of pre-war levels, the price squeeze is landing on American drivers and businesses. Listen for how the sanctions escalation could push prices higher even as Washington claims cheap gas is 'goal No. 1.'

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Show notes

Military escalation in the Strait of Hormuz caused regional oil exports to collapse by sixty-one percent.

Brent crude prices surged over thirty percent as daily flows dropped by six million barrels.

United States retail gasoline prices peaked at four dollars and fifty-two cents per gallon in May.

Rerouting tankers around the Cape of Good Hope adds significant fuel, labor, and insurance costs.

Treasury sanctions targeting shadow-banking and cryptocurrency channels have removed vital oil supply from global markets.

Cumulative volume losses from the Hormuz standoff reached nearly half a billion barrels by April.

In this episode
  1. 01Intro1 min
  2. 02The Logistics of a Chokepoint2 min
  3. 03The Price at the Pump3 min
  4. 04The Policy Paradox3 min
  5. 05Outro1 min
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Brent Jumps Past $94 and Gas Tops $4 as Hormuz Standoff Drags On — Fylom