US Gasoline at $5 'Not Likely,' Oil Analyst Schork Says

Watch on YouTube ↗  |  May 06, 2026 at 13:02  |  4:21  |  Bloomberg Markets
Speakers

Summary

Stephen Schork discusses the physical oil market's tightness due to logistics and vessel economics, arguing that crude oil prices will remain high despite an Iran peace deal headline. He also downplays the likelihood of US gasoline reaching $5 a gallon, predicting prices will stay elevated but not spike.

  • Schork says the Iran peace deal is premature and the physical market has not yet adjusted.
  • Crude oil prices are expected to stay higher longer due to vessel shortages and transit delays.
  • US crude inventories are high but logistics constraints keep the market tight.
  • Gasoline prices are unlikely to hit $5, but will remain high near $4.55 through Memorial Day.
  • The market's demand is returning with summer driving season, supporting oil bids.
  • Retail gasoline prices follow a 'rockets and feathers' pattern, with slow declines.
Trade Ideas
Steven Schork President, The Schork Group 0:45
Crude oil prices will stay elevated.
Prices for crude oil will remain higher for longer, especially through the summer driving season, due to physical market tightness driven by vessel logistics and transit delays rather than a lack of supply. The Iran peace deal headline is premature and the physical market has not yet adjusted, keeping the bid in the market.
WTI HIGH
Steven Schork President, The Schork Group 3:08
$5 gasoline unlikely in near term.
US retail gasoline prices are unlikely to reach $5 per gallon in the near term, as wholesale gasoline prices and historical regressions suggest limited upside from current levels around $4.55. Prices will remain high but not spike to $5.
UGA MED
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This Bloomberg Markets video, published May 06, 2026, features Steven Schork discussing WTI, UGA. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Steven Schork  · Tickers: WTI, UGA