Exxon exec warns oil price explosion may be imminent

An Exxon executive warned Middle East supply disruptions could ripple beyond gas prices, affecting diesel, food, plastics and shipping.

Exxon exec warns oil price explosion may be imminent. An Exxon executive warned Middle East supply disruptions could ripple beyond gas prices, affecting diesel, food, plastics and shipping. Lanier/Getty Images ExxonMobil is warning that global oil markets could be on the brink of a sharp and sudden price spike, with inventories sinking toward what one senior executive called "unheard of" levels amid ongoing geopolitical disruptions. Neil Chapman, senior vice president for the Houston-based oil giant, made the comments Thursday during an investors conference. Chron obtained transcripts from his discussion, where Chapman noted the market impact of the Strait of Hormuz closure, one of the world's most important oil transit routes, and ongoing disruptions tied to the war in the Middle East. "I think most people don't really appreciate what's...