The WSJ reported on the warning of Exxon Mobil and Chevron to Trump about the risk of an energy crisis

The heads of the largest oil and gas companies in the United States have warned the American authorities about a possible energy crisis amid escalation in the Middle East. This was reported by The Wall Street Journal on March 15, citing sources.

According to the newspaper, representatives of Exxon Mobil, Chevron and ConocoPhillips expressed their concerns at a meeting at the White House on March 11. US President Donald Trump took part in the negotiations. The participants in the discussion noted that Iran's blocking of the Strait of Hormuz could lead to sharp fluctuations in the global energy market.

ExxonMobil CEO Darren Woods warned that in this case, the American fuel market would also be at risk. According to him, speculative actions against the background of a possible shortage of petroleum products can cause an increase in gasoline prices. At the same time, even the active use of strategic reserves may not be enough to overcome the crisis.

The interlocutors of the publication stressed that one of the possible solutions to the situation could be the unblocking of the Strait of Hormuz. However, for this, as noted, the United States will need to stop a joint military operation with Israel against Iran.

"Many in the oil industry fear that the available options can do little to overcome the crisis," the article says.

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Alexander Schneiderman, head of Alfa-Forex's customer support and sales department, told Izvestia on March 4 that the escalation of the conflict over Iran had thrown the oil market off balance, but the scenario of a sharp price spike to $100-120 per barrel had not yet been realized. He also noted that the geopolitical premium is already partially embedded in the quotes. In the short term, the base price range for Brent crude oil is in the range of $80-85 per barrel.

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