Expert: Gasoline Could Rise Another 20-30 Cents

Kevin Book, Managing Director at ClearView Energy Partners, says oil markets are reacting to “uncertainty” tied to both White House policy and tensions in the Persian Gulf, as the closure of the Strait of Hormuz pushes crude into triple digits. He warns gasoline prices could rise another 20 to 30 cents and says shortages are already emerging in cooking fuels for Asian importers, with global shortfalls possible within weeks to months. He speaks with Joe Mathieu on the late edition of Bloomberg’s “Balance of Power.” (Source: Bloomberg)