Global Oil Inventories Decline at Record Pace in April, IEA Warns of Further Price Spikes Amid Iran Tensions

According to the International Energy Agency (IEA) on Wednesday, global oil inventories declined at a record pace in April amid ongoing Middle East supply disruptions related to Iran. Crude and refined oil stocks fell by nearly 4 million barrels daily in April—equivalent to the combined consumption of the UK and Germany—potentially weakening nations' ability to buffer against supply shocks. The IEA stated that shrinking inventory buffers amid persistent disruptions could signal sharper price increases ahead.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments