If there was an upcoming road sign for motorists to read when it comes to energy prices, it was delivered Thursday when benchmark West Texas Intermediate (WTI) crude shot up more than 11 per cent and closed above US$111 a barrel.

It came after U.S. President Donald Trump sent an array of conflicting signals about the timing of when the war in the Middle East might stop.

While there was no definitive answer, consumers shouldn’t expect a sudden end to the turmoil gripping global energy markets, regardless of what transpires in the days ahead in the critical Strait of Hormuz.

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Even if an end to U.S. military action in the region is only a few weeks away, as the president had indicated on Tuesday, there would be many complications left to untangle.

“The market was expecting Trump to maybe talk about winding down the operation in his address last night, and he didn’t really do that,” Ryan McKay, senior commodity strategist at TD Securities, said Thursday.

“We’re at least looking at another month or so of disrupted flows, so the market is starting to price that in now . . . Higher prices are sort of the new normal.”

In fact, disruptions could get worse before the situation improves. Gasoline and diesel prices are climbing, input costs for businesses are rising, and inflation rates are poised to march higher until more oil and gas flows from the region, say energy experts.

“The issue is there’s no real clear path for how the Strait........

© Calgary Herald