Fund anticipates supplies will drop to 7.5 billion barrels in July

Global oil prices tumbled by around 20 per cent from 2026 highs in May as investors grew increasingly optimistic on prospects for a long-lasting ceasefire deal between the U.S.…

The IEA warns global oil stocks could hit historical lows this summer as Hormuz-driven supply losses and record SPR drawdowns collide with peak seasonal demand.