Fearful traders and a market that’s being talked higher have been holding down oil prices, but one industry expert has warned a supply shock could be coming to drive crude to $135 a barrel.

“You have the rhetoric of the [U.S.] president, obviously, jawboning a market where the physical realities are starting to assert themselves, where they hadn’t so much for the last three months of this war,” Dan Dicker, an energy expert who spent 25 years on the New York Mercantile Exchange trading energy futures, told Bloomberg in an interview on Sunday.