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Fuel prices have fallen by $0.06, but this may worsen supply pressures by increasing demand while supply remains constrained. Tim Buckley emphasises the need to cut fuel use through measures such as public transport and working from home. Conflict in the Middle East, following U.S. actions, has disrupted around 20% of global oil and gas supply, with damage likely to last months or years. Although supply has dropped by about 10%, uncertainty remains significant. Reopening the Strait of Hormuz is vital for global stability. Buckley points to electric vehicles as a long-term solution, highlighting China’s rapid shift to reduce reliance on imported oil.
https://media.streem.com.au/preview/TCzPz6YvrFeZSOxye6Q?keywords%5B%5D=Tim%2520buckley