U.S. oil executives warn that the global fuel crisis has arrived as inventories fall, strategic reserves run low and attacks disrupt Middle Eastern energy infrastructure.

Intelligence summary

U.S. oil executives warn that the global fuel crisis has arrived as inventories fall, strategic reserves run low and attacks disrupt Middle Eastern energy infrastructure. Chevron CEO Mike Wirth said the buffers that had protected the market “have largely now played out,” adding: “I wish I could tell you that I saw some reason why things would ease, but it’s difficult right now to see that happen.” U.S. crude has jumped 19% in three weeks to around $101 a barrel, while diesel hit a record