Oil Inventories at Rock Bottom Threaten Quick Price Surge Amid Hormuz Disruptions
TL;DR
Global oil inventories are being drawn down to record lows as the Strait of Hormuz disruption trims supply, with analysts warning a sharp oil-price spike could arrive within weeks and Brent could reach $150–$160 per barrel even if traffic resumes slowly, since replenishment would take time and demand remains strong.
Topics:businessenergy#energy#geopolitics#inventory-depletion#oil-futures#oil-prices#strait-of-hormuz
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- A Rush to Stockpile Oil Will Keep Prices Higher for Longer WSJ
- Oil inventories headed toward multi-decade lows, US EIA warns Reuters
- Oil market defies predictions of summer supply crunch Financial Times
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