Oil Inventories Hit Low as Hormuz Turmoil Drains Market Cushion

Global oil inventories are collapsing as strategic and commercial stockpiles are drained to offset lost Middle East supply, and even if the Strait of Hormuz reopens it could take months to rebuild the cushion. Demand is already softening in Asia, jet-fuel and plastics feedstocks are tightening in Europe, and prices are rising, signaling a potential deeper, longer-lasting energy crisis if hostilities persist.