The U.S.-Israel war with Iran means higher profits for Texas oil companies and higher costs for its consumers, according to Texas experts who are tracking suddenly-volatile energy markets.
Oil prices rebounded early on Wednesday as the market fears a massive supply crunch from the ongoing blockage at the Strait of Hormuz, which offset reports that the IEA is preparing its largest-ever release from strategic oil stocks.
Curious Minds Corner
What is a flare in oil refineries?
A flare is the tall pipe that burns off excess gas, often visible as a flame signaling refinery operations.