Chevron CEO warns Iran conflict has created 'very real' threat to global oil supplies as gas prices climb

Chevron CEO Mike Wirth warned that escalating tensions in Iran and Houthi attacks on Saudi oil facilities pose 'very real' threats to global oil supplies, with risks expanding to key shipping routes like the Strait of Hormuz, Red Sea, and Black Sea. Oil prices have risen amid geopolitical uncertainty, and Chevron reported a 20% annual production increase despite the challenges.