Oil Markets Face Critical Scenarios with Tank Bottoms in West and Tank Tops Risk for Iran
Global oil markets are approaching critical scenarios as OECD countries near operational minimum inventories, while Iran risks storage overflows due to a U.S. naval blockade. Analysts warn that continued closure of the Strait of Hormuz could lead to exponential price increases by late May or early June.
Tickers: $JPM
Topics: commodity markets geopolitics Hormuz Strait closure oil