Global oil inventories are being depleted at a record pace as restricted Strait of Hormuz flows tighten physical markets and raise the risk of another price surge.

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

Standard Chartered warns the rapid SPR drawdowns and other emergency measures are only temporary fixes, with physical oil market tightness likely to return once reserve releases…

Global oil stockpiles are shrinking at a record pace this month, with visible crude and fuel inventories falling by 8.7 million barrels daily. This sharp drawdown reflects severe…

Global oil inventories are being depleted at a record pace as restricted Strait of Hormuz flows tighten physical markets and raise the risk of another price surge.

According to the bank, global stockpiles are shrinking by 8.7 mln barrels per day

" ... implied oil price would be $208/bbl, and if the demand elasticity was 0.1 prices would approach $372/bbl."