Written on: May 20, 2026
Beyond $100 Oil: The Bigger Energy Story Now Emerging
By Tucker Perkins, President and CEO of the Propane Education & Research Council. Host of the Path to Zero podcast.
Recently on the Schwab Network, I joined Diane King Hall to discuss where global energy markets could be headed as the closure of the Strait of Hormuz continues to disrupt oil supplies and push crude prices higher. The big question now isn’t just how high prices go in the short term — it’s whether this situation begins reshaping global energy flows, supply relationships, and long-term demand for fuels like natural gas and propane.
A few key takeaways from our conversation:
* Oil markets are reacting quickly, with WTI crude moving above $104 a barrel as supply disruptions continue.
* The U.S. remains in a much stronger position than many parts of the world because of abundant domestic natural gas and propane supplies.
* Countries heavily dependent on imported fuel are facing a much different reality, with shortages and higher energy costs already creating serious pressure.
* Demand for propane and natural gas continues to grow, not only globally, but also here at home as industries and data centers search for reliable energy sources.
This remains an incredibly dynamic situation, and energy markets could look very different even a few weeks from now.
Check out the full interview below for the complete conversation and perspective on where things may be headed next.
