The next phase of the Iran energy shock may be near

The oil industry is telling the Trump administration that oil and fuel stockpiles are running dangerously low and that global energy prices could spike in a matter of weeks. POLITICO’s James Bikales breaks down why the warning is coming now, how the Trump administration is responding, and the impact on consumers and the global economy. Plus, President Donald Trump is expected to invoke the Defense Production Act as part of a plan to provide almost $700 million to refurbish and expand the nation’s coal power fleet. James Bikales is an oil and gas reporter for POLITICO. Nirmal Mulaikal is the co-host and executive producer of POLITICO Energy. KJ Cline is the video producer for POLITICO Energy. Matt Daily is the energy editor for POLITICO. Cyril Zaneski is executive editor of POLITICO’s E&E News. Debra Kahn is the editorial director for energy and environmental coverage at POLITICO. Veronica Tejera is the deputy head of Audio/Video at POLITICO. Our theme music is by Pran Bandi. Follow the show on Apple, Spotify, Youtube and Instagram. Follow POLITICO here: ➤ X: ➤ Instagram: / politico ➤ Facebook: / politico For more reporting on energy and the environment,

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The next phase of the Iran energy shock may be near is an episode from POLITICO Energy by POLITICO.

This episode is 9:51 long.

This episode was published on Jun 5, 2026.

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