WITH FEW POLICY LEVERS LEFT — DEPLETED EMERGENCY RESERVES, NO REALISTIC GAS TAX HOLIDAY, REFINERS ALREADY NEAR CAPACITY — ANALYS

WITH FEW POLICY LEVERS LEFT — DEPLETED EMERGENCY RESERVES, NO REALISTIC GAS TAX HOLIDAY, REFINERS ALREADY NEAR CAPACITY — ANALYST DAN PICKERING SAYS A SIMULTANEOUS SHUTDOWN OF THE STRAIT OF HORMUZ AND RED SEA COULD PUSH OIL BACK TOWARD ITS LATE-APRIL PEAK OF $124 A BARREL BY AUGUST.