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War with Iran keeps gas prices over $4 a gallon nationwide
['Alton Wallace', 'The Center Square']
Just The News - Not The Noise
The Middle East war intensified early Thursday when the Houthis, an Iranian ally that controls most of Yemen, resumed missile and drone attacks on Red Sea shipping lanes, striking two crude tankers.
U.S. President Donald Trump said Thursday that he is considering a major attack on Iran to restore stability in the Middle East.
Recently released Department of Energy data show that the nation's Strategic Petroleum Reserve dropped by 5.1 million barrels last week to 311.4 million barrels, a 43-year low.
The U.S. Department of Energy has withdrawn about 28.8 million barrels from the strategic reserve over the last five weeks, bringing total drawdowns to more than 104 million barrels since the war with Iran began in late February.
Amena Bakr, Head of Middle East Energy Insights at Kpler, a maritime intelligence provider, said in a social media post Thursday that the market has moved beyond temporary instability.