A union dockworkers strike that began at dozens of U.S. ports on Tuesday has raised concerns about potential disruptions to various industries, including oil and gas. However, the Department of Energy has assured the public that crude oil, gasoline, and other liquid fuel exports and imports are not immediately impacted. Other workers handle these operations, meaning there is no immediate risk to fuel supplies or prices.
The East and Gulf Coast ports account for about half of all U.S. container imports, meaning the prolonged disruption could affect the overall supply chain. As Phil Flynn, an energy market analyst, pointed out, the strike could reduce the demand for oil as factories may shut down if the strike extends, further dampening overall oil demand.