Oil Could Hit $160 Per Barrel By End of Next Week, Schork Says

The video discusses the impact of Russian oil imports on the US market, highlighting that while they constitute only 3% of imports, they still significantly affect the economy. It explores the potential rise in oil prices due to geopolitical tensions, particularly the Ukraine crisis, and the resulting consumer impact. The video examines possible government responses, emphasizing the need to boost domestic oil production. It also covers refining capacity and its role in price stabilization, and critiques the Strategic Petroleum Reserve's effectiveness in managing oil supply disruptions.

What factors contribute to the expected increase in gasoline prices during the summer?

What is the current capacity utilization rate for oil production, and how does it affect prices?

How does the Strategic Petroleum Reserve (SPR) impact gasoline prices according to the discussion?