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IEA chief warns commercial oil inventories are depleting rapidly, only weeks left
International Energy Agency head Fatih Birol warned that commercial oil inventories are rapidly depleting, with only a few weeks of supply remaining due to the Iran war and Strait of Hormuz closure. Strategic reserve releases have provided temporary relief, but demand is increasing with seasonal shifts. The agency previously forecast a surplus but now anticipates a significant shortfall this year.
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cnbc.com
Global oil stockpiles could hit record lows if Strait of Hormuz remains closed
The world's oil stockpiles could approach all-time lows by the end of May due to the Strait of Hormuz closure, according to UBS.
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cryptobriefing.com
Global inventory race intensifies amid fears of energy crunch from Iran war
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.
