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.