An update on oil's wild ride from Marketplace. I'm Sabri Benishore in for David Brancaccio.

So just to get us up to speed on where oil prices are this morning, Brent crude is at $92 a barrel.

It was at $117 a barrel early yesterday morning.

Couple explanations for that.

One, President Trump said the war could end, quote, very soon and repeated the idea that

the U.S. Navy could escort tankers through the Persian Gulf.

On the other hand, he also said the war could escalate if Iran blocked the flow of oil.

Also, though, Saudi Arabia's Aramco said it would ramp up a pipeline that carries oil on a route that bypasses the strait of Hormuz.

But all that aside, $92 a barrel is still 30% more expensive than it was before the war started.

That means anyone selling oil right now is making a ton of money, including U.S.

producers. One question, will they use that extra cash to drill for more oil? Marketplaces Elizabeth

Troval has that. When oil prices move higher, it's often a signal to drill baby drill. But this case is different, says Dan Pickering

with Pickering Energy Partners. This is most likely a transitory event with the war in Iran and

prices likely to come back down. He says U.S. producers don't want to spend money to up their oil

production based on conflict-dependent prices.

It's not like turning the tap. There are no easy inventory of wells to turn on, and so we have to drill them, and that's going to take a number of months.

But Abi Regendron, with energy intelligence, says even after the conflict ends,

prices are likely to linger higher than what they would have been without any war. And so

that could mean U.S. production doesn't decline like he expected it to in 2026. What you may see now

is that maybe a little bit more growth in the Permian and maybe

you know less declines elsewhere. And so the net effect is actually you see something that's like

more flattish. Ori says later this year, there's a chance we could actually see overall

...