Oil prices to rise on 2 factors, says former Shell Oil president

Two factors, one domestic and the other international, will drive up the price of oil, a former Shell Oil president told FOX Business on Monday.

John Hofmeister, who ran Shell Oil USA from 2005 to 2008, told Charles Payne that there “are two dynamics that are forcing the price of oil up and I think they are unrelenting for the near and medium term.”

The first dynamic has to do with recent developments in the U.S…

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