Global oil markets are experiencing an unusual calm despite a major supply shock. The Strait of Hormuz remains largely shut, impacting significant global supply. However, prices have retreated from highs. Uncertainties about global inventories, China's demand, and the true state of consumption create a precarious situation. Experts are operating with limited information, making the market's stability fragile.

HOUSTON/NEW YORK, June 5 : Global oil inventories are running dangerously low as a deal to re-open tanker traffic through the Strait of Hormuz has proven elusive, and industry…

Global oil prices are defying expectations, staying below $100 a barrel even after the Strait of Hormuz was effectively blocked. Record US oil exports and a significant drop in…