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Chevron CEO Mike Wirth said on Friday that oil buffers that limited crude price increases earlier in the Iran war ‌have been ⁠depleted, and the ⁠conflict could lift prices further over the next few months.

Since the war began in late ​February, countries have released some crude stockpiles to the market, and the U.S. also lifted restrictions ​on oil stored on ships floating at sea from countries under sanctions. Those buffers have now been “played out,” Wirth said while speaking at a University of Texas at Austin ​energy conference.

“It’s harder to envision a scenario where ⁠prices soften ‌and quickly,” he said. “I think the risks remain to the ​upside over the next ​few months.”

The average price of diesel in the U.S. ⁠hit $6 per gallon for the first time on Thursday, as the ​Iran war, combined with Ukrainian attacks on Russian refineries, squeezed ​supply. Brent crude futures remain on track for a weekly gain of 8%.