Chevron CEO Mike Wirth cautioned that it may take considerable time for global energy supplies to normalize following shut-ins of Middle Eastern output linked to the ongoing U.S.-Israel conflict with Iran, underscoring persistent supply risk for Oil – Brent Crude, Oil – US Crude, and Natural Gas. He told the CERAWeek conference in Houston that market tightness is likely to linger, reinforcing concerns that geopolitical disruptions could keep price volatility elevated even if demand growth remains moderate.
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Over the past month, US Crude has surged about 47%, while Brent Crude has climbed roughly 56%, reflecting a sharp risk premium buildup, and both currently flash a 1-day technical signal of Buy and Buy, respectively. Natural Gas has gained around 1.8% over the same period, but its more muted move coincides with a short-term technical stance of Sell, highlighting differing supply-demand dynamics across energy benchmarks.
Investors can explore more updates, prices, and analysis across global markets at Commodities.