Oil executives caution Trump administration that Strait of Hormuz disruptions could trigger price spikes within weeks

Oil industry executives have issued a warning to the Trump administration. They say recent loss of oil shipments through the Strait of Hormuz is reducing supply. The reduced flow is draining petroleum inventories to dangerously low levels. Executives caution that the inventory shortfall could cause price spikes within weeks. The warning underscores concerns about energy market stability. The administration is being asked to consider the implications for U.S. fuel prices. A rapid increase in oil prices would affect American consumers and businesses. Officials will need to monitor the situation as inventories remain low.