Prolonged port strike could shake up the oil and gas industry, experts say

Published On Oct 2, 2024, 8:06 AM

A dockworker strike at U.S. ports has begun and could eventually impact the oil and gas industry if it continues for a prolonged period. While immediate effects on fuel imports and exports may not be significant, experts warn of potential disruptions in supply chains for the energy sector. Half of U.S. container imports come through the affected ports, and extended strikes could lead to product shortages and increased prices, particularly for consumers. Analysts suggest a strike could impact oil demand, as industrial operations slow and prices fluctuate, leading to market instability.