Oil prices jumped Monday after Israeli Prime Minister Benjamin Netanyahu warned that the conflict with Iran was “not over,” raising fears that tensions in the Middle East could escalate again and further threatening energy supplies.
Most of the market buffers that have stopped oil futures prices from rallying to record highs could vanish before the reopening of the Strait of Hormuz, which puts the market in a “race against time,” according to Morgan Stanley.
Curious Minds Corner
How many gallons of gasoline does one barrel of crude oil actually yield?
About 19-20 gallons after refining, with the rest becoming diesel, jet fuel, and other products.