While supply is finally catching up with demand for gas in the U.S., a shortage of truckers to move it is keeping prices sticky.
Daniel James Graeber
Should U.S. oil prices run too hot, they will approach global prices and diminish incentives to export.
Citing weeks of federal data showing surging demand, analysts say gas prices could be stuck above $3 per gallon all summer.
Markets were volatile as the usual movers were overshadowed by the U.S. Federal Reserve.
The last time prices topped $3 per gallon was in 2014. But that's discouraging few commuters.
Without pipelines, oil suppliers may turn to potentially unsafe rail, analysts say.
Implied demand for this time of year is a bit lower than pre-pandemic levels.
Consumers hit with the highest gasoline prices since 2014 as they get ready for summer vacations.
Iran remains something of an elephant in the room for the crude oil market.