Oil executives have secretly warned President Donald Trump and his team that the spiraling energy crisis created by his war in Iran is about to get even worse, according to the Wall Street Journal.
In a series of White House meetings, the CEOs of ExxonMobil, Chevron, and ConocoPhillips warned officials—including Energy Secretary Chris Wright and Interior Secretary Doug Burgum—that disruption to energy flows through the Strait of Hormuz would continue to create volatility in global energy markets, according to people familiar with the matter who spoke to the Journal. The title added that Trump did not attend the meetings.
The price of crude has spiraled since Trump launched “Operation Epic Fury” against Iran on February 28. Tehran has responded by choking the world’s energy supply, using drones and mines to strike tankers in the Strait of Hormuz—the narrow shipping lane connecting Gulf oil to the rest of the world. The U.S. oil benchmark is now hovering around $99 a barrel, up from $87 a barrel on the day of the White House meetings.
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