UBS Warns Of "Scary" Oil Price Scenarios Once Inventory Buffers Run Dry

UBS Warns Of "Scary" Oil Price Scenarios Once Inventory Buffers Run Dry Drawing down crude inventories at a record pace, with SPR releases doing the heavy lifting to cushion the Gulf supply shock, only delays the move higher in crude oil prices. Once those buffers are depleted, oil risks being violently repriced higher. That is why the Trump administration's race to secure a peace deal with Iran and reopen the Hormuz chokepoint has taken on new urgency in recent weeks. The longer t...