TENSIONS RISING: Trump delivers unmistakable warning

• Oil prices are currently around $69-$72/barrel, down significantly over the last month, with one analyst predicting $45/barrel next year.
• Reported attacks on two commercial tankers near the Strait of Hormuz, including a Qatari LNG tanker, are seen as a 'shot at the mediator' by Iran.
• US energy production is at record levels, and OPEC+ is increasing output, contributing to growing global supply.
• Gas prices are expected to continue falling, with predictions of reaching closer to $3/gallon by Labor Day, despite higher retail prices due to past purchase costs.

The discussion focuses on global oil and gas markets, geopolitical tensions in the Strait of Hormuz, and their impact on energy prices. Experts predict continued downward pressure on gas prices for American consumers, despite recent tanker attacks and ongoing tensions with Iran.