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Hosts link Iran developments to recent drop in oil prices and credit U.S. production
Summary
Presenters connected reports of an Iran deal and U.S. tanker operations to a rapid drop in crude prices since mid-May and credited U.S. production and policy decisions with cushioning price spikes.
Terry Martin and Jeff Berkowitz tied reports of diplomatic developments and U.S. tanker operations through the Strait of Hormuz to recent reductions in crude oil and retail gasoline prices.
Martin cited a May 17 price of "$105 a barrel" and said prices were down to about "$85 a barrel" in the weeks since, adding that retail pump prices in some areas had dropped below $4 per gallon. Jeff Berkowitz said U.S. moves to move crude and escort tankers helped prevent larger price spikes and that increased domestic production has lessened supply pressure.
Both hosts framed energy policy as a potential midterm campaign message, arguing Republicans should highlight production increases and supply stability. The program presented these observations as commentary; the hosts did not present supporting charts or source documents during the segment.
