(NAFB) Oil prices continue their see-saw movement, swinging higher to start this week. While oil prices moved higher, pump prices for both gasoline and diesel slipped marginally this week.
However, Patrick DeHaan, the senior petroleum analyst with Gasbuddy.com, says don’t get used to this trend.
The latest news saw President Trump call off a planned attack on Iran on Monday, at the request of Gulf states. As Tuesday marks the 80th day of military action between the U.S. and Iran, the United States has become a significant exporter of oil, trying to address the shortage created by the closure of the Straight of Hormuz.
Could the United States find itself in another predicament if it continues to export oil as the conflict drags on?
DeHaan says not only are exports of U.S. crude oil and refined products at record-setting levels, but domestic inventories are also declining.
