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 depl...
Original Source
Read the full article at Oilprice →KhanList aggregates and links to publicly available news content. We do not host full articles from third-party sources. Always verify important information with original sources.