The IEA has warned that global oil supplies are depleting at a record pace, with the Strait of Hormuz closure driving the worst supply shock in decades

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.

Oil prices could top $130-$140 a barrel next month if the strait remains closed and inventory depletion rates remain steady, according to Capital Economics.

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.

IEA data shows onshore inventories fell sharply while more crude is stuck at sea, making supplies harder to access quickly; if the trend continues, analysts warn oil could climb…

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…

The IEA has warned that global oil supplies are depleting at a record pace, with the Strait of Hormuz closure driving the worst supply shock in decades

Global energy supplies are dangerously low as the Strait of Hormuz crisis continues. IEA warns of oil shortage and soaring prices ahead.

The scale of the Hormuz supply loss intensified last month due to the US blockade of Iranian exports.

The present tranquility will not last.