U.S. oil executives warned the Trump administration that disruptions to the Strait of Hormuz could worsen the global energy crisis despite policy efforts to stabilise markets.

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Earlier, this empty report:

Summary:

  • U.S. oil executives warned the Trump administration the energy crisis may worsen. Wall Street Journal (gated) report.

  • Disruptions around the Strait of Hormuz are threatening global energy flows.

  • Oil company CEOs told officials supply volatility could intensify.

  • U.S. crude prices have climbed to around $99 a barrel.

  • Futures opened higher at the start of the new week in Globex trading.

  • The White House is considering easing Russian sanctions and releasing strategic reserves.

  • Industry leaders say reopening the Strait of Hormuz remains the key solution.

U.S. oil industry leaders have warned the Trump administration that the global energy crisis triggered by the conflict with Iran is likely to worsen, as disruptions to shipping through the Strait of Hormuz continue to threaten oil supplies and keep markets on edge.

According to people familiar with recent discussions in Washington, senior executives from major U.S. energy companies told administration officials that ongoing attacks and instability around the key maritime chokepoint could sustain volatility in global energy markets.

Chief executives from Exxon Mobil, Chevron and ConocoPhillips raised their concerns during meetings at the White House and in conversations with Energy Secretary Chris Wright and Interior Secretary Doug Burgum.

Executives warned that continued disruptions to shipping through the Strait of Hormuz — the narrow waterway that carries roughly one-fifth of global oil and liquefied natural gas flows — could intensify supply pressures and fuel further price spikes.

Darren Woods reportedly cautioned that crude prices could climb even higher if speculative trading accelerates or if refined product shortages begin to emerge. Mike Wirth and Ryan Lance also highlighted the scale of the disruption facing global energy markets.

U.S. crude prices have already surged in recent days, rising from around $87 a barrel earlier in the week to roughly $99 by Friday. Early trading in the new week suggested continued upward pressure, with U.S. oil futures opening higher in Globex trading on Sunday evening.

In response to the crisis, the administration is weighing several policy options aimed at stabilising energy markets. Officials are considering further easing sanctions on Russian oil exports, potentially increasing oil flows between Venezuela and the United States, and releasing a massive 400 million barrels from emergency strategic reserves.

Despite these measures, many energy executives remain sceptical that such steps will meaningfully reduce market pressure if the Strait of Hormuz remains disrupted.

Administration officials acknowledge the challenge. One senior official said policymakers expect oil prices to continue rising in the near term, while the Pentagon has indicated that military options exist to reopen the strait.

Industry figures warn that prolonged disruptions could push oil prices toward levels that risk damaging the global economy by driving up fuel costs and weakening demand.

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Oil markets are not in steady hands right now ...

This article was written by Eamonn Sheridan at investinglive.com.

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