Oil prices will soon reflect crisis, IEA says

[SamuelTheThird]

Oil prices don’t yet reflect the severity of the unprecedented supply crisis caused by the Iran war, but they soon will, the head of the International Energy Agency said.

About 13 million barrels a day of oil supply have been shuttered by the conflict and the near-closure of the Strait of Hormuz, IEA Executive Director Fatih Birol said at an event hosted by the Atlantic Council.

More than 80 energy facilities have been damaged during the hostilities, and a recovery could take as long as two years, he warned.

https://www.bloomberg.com/news/articles/2026-04-13/oil-prices-will-soon-converge-to-reflect-crisis-iea-chief-says?leadSource=reddit_wall

[dalton99a]

1. Americans will have a shitty Memorial Day, 4th of July, Labor Day

from rising prices and job losses

[maxsolomon]

2. There goes Summer vacation!

My local Shell station was $5.82 this morning (I'm rounding up from $5.819, sticklers).

Thanks, Trump! All so Israel could ethnically cleanse southern Lebanon...

[OC375]

3. Hope it's not another hot summer.

Things were already boiling over up here in MN, all winter long. You wouldn't have to do much to get people... irritable...

[Justice matters.]

4. To distract from his crimes "hidden" in the Epstein files, war criminal moron asks...

the American people to be patient because, in his con-man mind, gas prices will come down "soon" ... as "soon" as his infamous "best healthcare plan the world has ever seen" promise back in 2015 and never delivered "soon" ...

[dalton99a]

5. The longer he drags this out, the bigger the windfall for Putin and Texas oil companies.

[Midnight Writer]

6. Takes about a month for oil from the Gulf to be transported and processed into gasoline.

We are nowhere near feeling the full effects of Trump's Folly.