US shale executives are frustrated with the "chaos" in oil markets that has come from the Middle East conflict, according to the latest energy survey from the Federal Reserve Bank of Dallas.

The report released Thursday is widely read within the energy sector and features anonymous, unfiltered comments from respondents working at production and service companies. The respondents criticized what they characterized as the inability of President Donald Trump to explain the rationale behind the conflict.

"If the administration feels that we need to prolong the conflict, it needs to better articulate the long-term strategic goal and the risk of inaction," one respondent was quoted as saying. "This cannot be solely about barrels."

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The bank, which typically conducts a quarterly survey of energy firms in Texas, northern Louisiana and southern New Mexico, took the unusual step of asking additional questions following the publication of the first quarter survey in March. The updated responses come at a time of high volatility in energy prices amid the conflict in the Middle East. The insights, published days before the Fed's April meeting, will give policymakers a fresh look into a rapidly evolving market.

West Texas Intermediate, the US benchmark for oil, has climbed by more than a third since the US-Israel war with Iran began in late February. Although US drillers are generally expected to ramp up output in response to the price spike, the largest publicly traded oil companies have yet to announce any updates to drilling plans.

The Strait of Hormuz remains mostly closed, trapping roughly a fifth of the world's crude supplies. About 80% respondents to the survey expect traffic to normalize no earlier than August. But, of course, an estimate like that comes with plenty of hedging.

"With all of the chaos, predicting anything in the energy sector is very difficult," another executive was quoted as saying in the Dallas Fed report.

The survey has often highlighted criticism of US presidents and the effect of their policy on the industry. The latest report features heightened frustrations with Trump.

"The long-term consequences of this war were not fully considered," an executive from an oilfield services firm was quoted as saying. "The disruption this will cause to energy markets and other macroeconomic measures will be significant. The unpredictable nature of the current administration makes business modeling near impossible."

Shale Bosses See 'Chaos' From Iran War in Anonymous Fed Survey