Crude Oil - GoKawiil

Oil prices surge after US-Israel strikes on Iran, from $66 to $101 a barrel

Energy economists report that US crude oil prices jumped from about $66 per barrel in late February 2026 to $101 by April 13, following American and Israeli attacks on Iran that closed the Strait of Hormuz. Because oil underpins transportation, plastics, fertilizers and countless supply chains, the price increase has spread globally, raising costs for manufacturers and consumers across many industries.

theconversation.com · 2026-09-29

How the US Strategic Petroleum Reserve avoids surface tanks by using underground salt caverns

An engineering explainer examines why the US Strategic Petroleum Reserve does not rely on the commercial standard of external floating roof tanks to hold its 714 million barrels of crude. It shows that scaling up conventional tank farms would require roughly 1,130 tanks spread across about 45,000 acres, an area comparable to Washington, D.C., while leaving the oil highly exposed to fire and attack.

johnjwang.com · 2026-09-15