Urgent Policy Clarity Sought on Energy Transition as Oil Hits $90

The latest developments highlight urgent calls for clearer government policy to accelerate the shift to renewables amid persistent Middle East supply risks. Oil markets have swung violently with Brent nearing $100 before settling near $90, while the SPR has plunged to a 40-year low of 374.2 million barrels after record withdrawals. Gasoline prices have jumped 41% year-over-year to $4.46/gal, driving CPI toward 4.2%, a 22-point surge in input-price PMI to 79.5, and increased emergency savings withdrawals. Renewables investment now outpaces fossils by five-to-one, yet analysts warn of potential $140–$150 oil if Hormuz disruptions continue and Fed tightening pressures equities.