Iran War: IEA warns global oil inventories depleting at 'record pace'

James Murray
clock • 3 min read
Strait of Hormuz - Credit: iStock
Image:

Strait of Hormuz - Credit: iStock

Agency warns continuing blockade of Strait of Hormuz means 'further price volatility appears likely ahead of the peak summer demand period'

Oil prices are likely to remain volatile for months to come, as the Iran War and the blockade of the Strait of Hormuz continues to result in a sharp contraction in global oil supplies and the fastest depletion...

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