Why gas prices may tick higher ahead of the holidays

As part of Yahoo Finance's 2024 Investor Guide, Patrick De Haan, Head of Petroleum Analysis at GasBuddy, joined Yahoo Finance Live anchors Josh Lipton and Diane King Hall to discuss how geopolitical tensions and other factors may impact gas prices looking ahead. De Haan notes that while oil declined for 13 straight weeks recently, attacks disrupting Red Sea shipments created uncertainty around extending that streak further. He also points to how the Federal Reserve hints at potential 2024 rate cuts helped nudge oil and gas prices a bit higher in the near-term on hopes for rebounding demand. Looking to 2024, De Haan says a lot of volatility in energy markets right now sets an "expect the unexpected" tone given shaky geopolitics and policy moves that can rapidly shift prices overnight.


Reprinted from Yahoo Finance, all rights reserved by the original authors.