Global oil inventories fell 250M barrels in two months as the Iran war blocks the Strait of Hormuz, triggering a worldwide scramble for energy supplies.

Consumers have tapped surplus oil-on-water and near-record stocks to mitigate supply losses from Hormuz's near-closure. But such draws are becoming unsustainable.

(Bloomberg) -- The global rush to stockpile manufactured goods on fears of an energy-supply crunch will again overshadow business surveys in the coming week gauging the impact of…