Global Oil Stockpiles Plunge as Iran War Chokes Supply

The West’s international energy watchdog has warned that oil stockpiles were being drained at a record rate last month as the US’s war in Iran continues to choke supply in an “unprecedented” supply shock. The International Energy Agency revealed that around 4m barrels of oil a day were tapped from back-up supplies in April, within a detailed report on the global market. It said: “More than ten weeks after the war in the Middle East began, mounting supply losses from the Strait of Hormuz are depleting global oil inventories…Weiter zum vollständigen Artikel bei OilPrice.com Weiter zum vollständigen Artikel bei OilPrice.com