Oil markets are cooling slightly as Brent crude stabilises just above $100/barrel after signs of progress in U.S.-Iran peace talks.
Meanwhile, U.S. fuel exports to Europe and Asia have surged to record highs following the Hormuz disruption — generating an estimated $60+ billion windfall for American oil producers this year.
But there’s a political cost: U.S. gasoline prices have jumped nearly 50% in just two months, with the national average now at $4.53/gallon. Analysts warn that if prices hit $5, pressure could mount on Trump to restrict fuel exports despite strong global demand.
At the same time, U.S. oil and diesel inventories continue to fall sharply.
