AXIOS (Ben Geman) - When oil prices could get even worse
Oil prices have defied predictions of even bigger increases than we've seen — but the markets' shock absorbers could easily wear out later this summer unless the Strait of Hormuz opens soon, analysts warn. Why it matters: If the stockpiles run too low and oil prices surge, prices at the pump — which have been falling lately — could spike again as the midterm elections approach. - And buffers against economically devastating shortages in major importing countries are also at risk. The latest: President Trump said Thursday that a deal with Iran is imminent, but the outlook changed so many times in the course of one day that it could easily change again. - The oil markets seem to think it might happen, though, as oil is trading…