Oil Shortage Scenario Looms Large

Oil Shortage Scenario Looms Large

The world is running out of oil. Implausible three months ago, the likelihood of a crude shortage on a global scale is becoming increasingly realistic with each day that the Strait of Hormuz remains almost completely blocked. Analysts are no longer modeling for a swift end to the war between the United States, Israel, and Iran. They are now also allowing for an extended period of severe energy flow disruptions—and it is not looking good. Kpler r…

Oil markets could be a month away from the moment of truth. Brace for a 'non-linear' price spike and panic buying, analysts warn

Oil prices could top $130-$140 a barrel next month if the strait remains closed and inventory depletion rates remain steady, according to Capital Economics.

US, Iran Stall on Hormuz Reopening as Oil Supplies Tighten

Iran said transit through the critical Strait of Hormuz will flow once the conflict with the US and Israel is over, but the sides are no closer to resolving their differences or finding a path to achieve it.

Middle East crisis: Global oil stocks deplete at record pace as supply losses mount - EnviroNews - latest environment news, climate change, renewable energy

More than 10 weeks after the war in the Middle East began, mounting supply losses from the Strait of Hormuz are depleting global oil inventories at a record pace. Benchmark oil prices have posted wild swings in response to conflicting signals on whether the United States and Iran will soon reach a deal to end the conflict, with North Sea Dated plunging from a high of $144/bbl to below $100/bbl before rebounding again. At the time of writing, the…

Is the Brent crude oil price set to surge amid the US-Iran quagmire?

Brent crude oil price ended last week at $109.50, its highest point since May 5 this year. It has soared by over 13% from the lowest point this month, and may have more gains ahead as the quagmire between the US and Iran continues. Worse, it has formed the bullish inverted head-and-shoulders pattern, pointing to more gains ahead of the driving season.US-Iran quagmire continues, with no easy way outBrent crude oil price jumped to $109.50, while t…

Trump, Xi push Hormuz reopening as oil prices extend rally

The U.S. and China called for reopening the Strait of Hormuz following talks between President Donald Trump and Chinese President Xi Jinping, though negotiations over the Iran conflict remain deadlocked as oil prices continue climbing.