Global oil inventories to fall below 100 days of demand on Hormuz blockade
Global oil inventories are expected to fall below 100 days of demand because of the blockade in the Strait of Hormuz, according to Nikkei Asia. The squeeze on supply is heightening concerns over energy security in markets.
According to Nikkei Asia, the blockade in the Strait of Hormuz is drawing down global oil inventories, and a significant threshold is about to be crossed. Stocks, measured by the number of days of demand they could cover, are expected to fall below 100 days.
Hormuz is regarded as a critical corridor through which a large share of the world's seaborne oil passes. Any disruption to that passage can quickly affect the global supply balance and put upward pressure on prices.
The report says falling inventory levels raise supply-security risks for economies dependent on energy imports. Markets, it notes, will remain sensitive to the situation in the strait and to inventory data. This article is not investment advice.
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