Commercial oil stocks are falling "very fast" as Gulf supplies remain disrupted by the Middle East war, even with the release of strategic reserves by governments worldwide, the head of the International Energy Agency has warned.

IEA chief Birol warns of rapidly depleting oil inventories, citing the Iran war and limited strategic reserves.

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…