IEA warns record oil inventory drawdown is turning Hormuz disruption into a global inflation shock
IEA said global observed oil inventories fell by 129 million barrels in March and by another 117 million barrels in April
Follow oil and gas with Brent and WTI moves, OPEC signals, and supply-demand drivers.
China’s fuel demand slowdown deepens as high oil prices accelerate EV transition and refinery pressure
China’s gasoline consumption decline 5.5% this year, marking the second-largest contraction on record after the collapse triggered by Covid lockdown
Oil Surges Above $104 as Trump Rejects Iran Proposal and Hormuz Risks Intensify
Oil prices surged above $104 as Trump rejected Iran's proposal, raising Hormuz disruption fears and fueling inflation, supply, and security concerns.
Oil Holds Above $107 as Iran Submits New Hormuz Proposal - But Peace Remains Elusive
Oil prices stay high as Iran proposes a Hormuz ceasefire, but US suspends talks. Markets remain volatile; peace remains elusive.
Brent crude falls toward $98 as US-Iran talks offset supply shock from Hormuz disruption
Brent crude drops 3.75% to $98 as US-Iran talks ease risk, but supply remains tight due to Hormuz disruption and OPEC+ output cuts.
European physical oil prices surge toward $150 as US Iran blockade jolts supply fears
European physical oil nears $150/barrel as US Iran blockade sparks supply fears, outpacing futures and signaling a real energy security shock.
European gas prices surge as Middle East tensions escalate and supply fears intensify
European gas prices surged 12% as Middle East tensions and a US naval blockade raised fears of disrupted global energy supply.
Oil surges above $100 as US imposes blockade on Iranian ports, triggering global supply shock fears
Oil tops $100 as US blocks Iranian ports, sparking supply shock fears; gold drops as markets brace for inflation and trade disruption.
China pays premium for Iranian oil above Brent for first time in years as supply risks reshape market
Chinese refiners now pay above Brent for Iranian oil due to supply risks, marking a shift from past discounts and highlighting supply security needs.
Oil approaches $100 as Hormuz disruption and ceasefire doubts trigger sharp supply risk repricing
Oil rebounds above $100 as Hormuz disruption and ceasefire doubts fuel supply fears, shifting market focus to geopolitical risk.
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