Stephen Schork, principal and editor at The Schork Group, has outlined how Iran has expanded its influence over critical Middle East oil transit routes. He pointed to control over the Strait of Hormuz and Bab el Mandeb following attacks on Saudi infrastructure and pipeline closures that have constrained global supply. Schork warned that the US Strategic Petroleum Reserve will be drawn down to its operational limits by November after successive releases aimed at countering price spikes. Current inventory levels hover near 285 million barrels amid ongoing efforts to stabilize markets.

Brent crude has risen toward $107 per barrel in September 2026, contributing to a national average gasoline price of about $4.33 per gallon in the United States. The combination of restricted flows and declining emergency stocks has heightened concerns about further volatility. Schork’s assessment underscores the vulnerability of global energy markets to prolonged regional conflict and the limited remaining capacity of the US reserve. Questions persist about how long current measures can offset supply shortfalls and what additional steps may be required if disruptions continue.