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

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.