#285: Oil Prices, Diesel Shortages & What's Next for U.S. Energy | The Oil & Gas Rundown

And Jay, we're going to jump into what's been happening globally around the world in oil and gas.

So I want to talk to you about our first story with Saudi Aramco and the attacks that's happening there.

Of course, looking at the straight of removed shipping and there's a lot of threats that are still keeping prices elevated.

I know you've been on a lot of news channels doing a lot of interviews.

What are you seeing happening currently in that part of the world.

Yeah, I mean, more disruptions, more distractions, more disruptions, more of everything that you need than just a normal flow of oil and gas through the Strait of Ramus.

We have a lot of different...

There was 20 million barrels a day that at one point was being...

You know, through this area, they talk about, you know, five to six million barrels a day right now.

And when you have that much of a shortage, you're going to have, you know, a lot of disruption.

And when you have disruption, especially in the oil business, when supplies are extremely tight, that, you know, it is going to be tight, and when it is tight, you know, prices are going to go up because you can't get that oil and gas from A to B.

You know, so it is.

It is.

So what I'm also seeing is there's a lot of strategic reserves that are also being – And there's a lot of strategic reserves that are also being, you know, down.

You know, our strategic reserves in the United States are, you know, down the lowest since they've been since the early 80s.

There's a lot of different people that – a lot of different countries that have been using their strategic reserves.

So – I really feel like after the elections, these midterms, I really do feel like we're going to see a really big, huge spike in prices because it's not going to be fun, not going to be good.

We're going to see a big price escalation after these elections coming up.

Yeah, I would agree with you, Jay.

We're getting through the midterms.

Things have already been high.

And on that note, diesel prices continuing to stay elevated currently.

And I mean, I know a lot of that Jay's refining capacity.

What are your thoughts on the extended outlook on diesel right now?

Yeah, I mean, same thing.