Oil market's 'credit card' maxed out and price could spike in August: expert | ABC NEWS

The world navigated the fuel crisis earlier this year by releasing strategic reserves. However, those reserves are now dwindling and any further supply shock from the Strait of Hormuz could see a much worse crunch.
Energy analyst Saul Kavonic says Australia is not feeling the crunch as much as its neighbours, but by August we could start seeing price rises of 10-15 per cent.
Subscribe: http://ab.co/1svxLVE
Read more here: https://www.abc.net.au/news/2026-07-16/petrol-temperature-check-what-happens-with-prices/106917442

Note: In most cases, our captions are auto-generated.

#ABCNEWS #ABCNEWSAustralia