President Donald Trump faces a dead end as oil prices hover near the psychological $100 per barrel threshold, with most demand levers already exhausted. U.S. strategic petroleum reserves have dropped to 311 million barrels, the lowest since 1983, down nearly 60% from the 726 million peak in 2009, severely limiting emergency response options. Military escalation with Iran and Houthi attacks on Saudi tankers in the Red Sea’s Bab el-Mandeb strait threaten critical export routes, potentially pushing oil back toward April’s $124 high. The average U.S. gasoline price has risen above $4.10 per gallon, intensifying pressure ahead of November midterm elections, with analysts noting Trump faces a choice between further escalation or conceding control of the Strait of Hormuz to Iran.
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