Iran War Is Draining Global Oil Reserves at an Unprecedented Rate, IEA Warns
The Iran war has triggered the largest oil supply disruption in history, with flows through the Strait of Hormuz collapsing from 20 million to 3.8 million barrels per day. The IEA reports global inventories fell 85 million barrels in March alone, physical oil markets are trading $20–$30 above futures, and strategic reserves are being drawn down at a record rate — with no diplomatic resolution yet in sight.
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