Exxon, global agencies warn oil could hit $150–$160 a barrel within weeks
An ExxonMobil executive and international agencies say conflict in the Middle East is draining global oil inventories and could trigger a sharp price spike that would boost gasoline costs.
A senior ExxonMobil executive warned that oil prices could surge to $150–$160 per barrel within weeks as conflict in the Middle East reduces global inventories. Global agencies issued similar warnings, saying the supply squeeze would likely drive gasoline prices higher for consumers.