As global oil supplies continue to tighten up amid ongoing geopolitical conflicts that have pushed up fuel prices, the governor of Texas has declared a state of emergency.

As global oil supplies continue to tighten up amid ongoing geopolitical conflicts that have pushed up fuel prices, the governor of Texas has declared a state of emergency.

Persian Gulf oil producers are shifting critical cargo transfer operations even farther out of the war-hit region as waters just outside the Strait of Hormuz become congested with tankers.