McNally: Oil Disruption From Hormuz Could Last Weeks

Bob McNally, founder and president of Rapidan Energy Group and Former Special Assistant and Senior Director for International Energy on the National Security Council under President George W. Bush, says oil markets could face weeks of disruption based on current conditions in the Strait. McNally says the Hormuz artery is “too big and important,” downplaying the impact the IEA’s largest-ever emergency oil release will have on markets. He expects oil prices will stay in the triple digit range until a ceasefire is reached. He speaks on Bloomberg’s “Balance of Power.” (Source: Bloomberg)