business
Global oil stockpiles could hit record lows if Strait of Hormuz remains closed
Key takeaways
- Livestream Menu Make Itselect USAINTLLivestream Search quotes, news & videos Livestream Watchlist SIGN INCreate free account Markets Business Investing Tech Politics Video Watchlist Investing Club PROLivestream Menu
- Global oil inventories are falling at a record pace to compensate for the big supply disruption in the Middle East and they will approach critical levels if the Strait of Hormuz does not reopen.
- Higher prices for oil and fuel are likely ahead of peak demand this summer as a consequence, the International Energy Agency warned this week in its monthly update.
Livestream Menu Make Itselect USAINTLLivestream Search quotes, news & videos Livestream Watchlist SIGN INCreate free account Markets Business Investing Tech Politics Video Watchlist Investing Club PROLivestream Menu
Global oil inventories are falling at a record pace to compensate for the big supply disruption in the Middle East and they will approach critical levels if the Strait of Hormuz does not reopen.
Higher prices for oil and fuel are likely ahead of peak demand this summer as a consequence, the International Energy Agency warned this week in its monthly update.
Article preview — originally published by CNBC. Full story at the source.
Read full story on CNBC →
More top stories
Also covered by
Al Jazeera
Al Jazeera’s exclusive report from the Strait of Hormuz
Investing.com
China’s UN envoy criticizes US-Bahrain Strait of Hormuz resolution
The Hindu
Iran will announce Strait of Hormuz mechanism, collect fees, Iranian MP says
Investing.com
Iran to unveil Strait of Hormuz traffic plans, will collect tolls
Aggregated and edited by the Scoop newsroom. We surface news from CNBC alongside other reporting so you can compare coverage in one place.
Editorial policy · Corrections · About Scoop