"Global Shortage Threatens to Push Oil Prices to $100 This Summer"
Oil prices surged above $90 a barrel due to military tensions and global supply shocks, including Mexico's cut in crude exports, US refiners consuming more domestic barrels, stranded Russian cargoes, potential Venezuelan supply disruptions, and Houthi rebel attacks delaying crude shipments. Despite the turmoil, OPEC and its allies are maintaining production cuts, intensifying fears of a commodity-driven inflation resurgence and raising the possibility of oil prices reaching $100 this summer.