Analysis-Trump officials tout US energy dominance as global oil execs warn of supply crisis
US officials claim the recent spike in fuel prices will be short-term, despite warnings from global oil executives of a supply crisis. The crisis has been caused by the war in Iran, which has halted a fifth of global oil and gas supplies and pushed prices above $100 a barrel.
US officials said the fuel price spike will be short-term. They touted record US production at an industry conference in Houston. Global oil executives warned of a supply crisis due to the war in Iran. The war has damaged oil and gas infrastructure and halted a fifth of global supplies. Prices have spiked above $100 a barrel, slowing the global economy. Some countries face fuel shortages and are taking measures to mitigate the impact.
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