A heatwave or storm could push prices above 80 dollars
The U.S. West Coast could run short of gasoline due to oil supplies facing a series of global and domestic threats, analysts warned on Monday.
They listed the threats as the shutting down by BP of Alaska's Prudhoe Bay oil field and the possible suspension of oil exports by Iran, whose nuclear program has caused much concern for the oil market.
BP shut Prudhoe Bay, the largest oil field in the U.S. with the putout capacity of 400, 000 bpd.
The BP gets 40 percent of its sales from the U.S., with Alaska providing around 10 percent of BP's worldwide oil production.
A heatwave or storm could push prices above 80 dollars a barrel in a heartbeat, said one analyst.
U.S. gasoline usage peaks between late May and early September. The oil price has jumped by 26 percent this year.