Red Sea risk to oil ‘very real,’ prices could change rapidly if supply disrupted, Chevron CEO says

• “It’s a very serious situation and seems to be getting worse,” Chevron CEO Michael Wirth said of the crisis in the Red Sea.
• Wirth said he was surprised that U.S. crude oil was trading below $73 a barrel because the “risks are very real.”
• Chevron has continued transporting crude through the region as the company works closely with the U.S. Navy’s Fifth Fleet, Wirth said.

https://www.cnbc.com/2024/01/16/red-sea-crisis-poses-very-real-risk-to-oil-chevron-ceo-says.html