Global Oil Market Faces Supply Constraints Amid Hormuz Disruptions

The global oil market is struggling as disruptions in the Strait of Hormuz have led to a loss of over 1 billion barrels and ongoing daily losses of 14 million barrels, according to IEA and JPMorgan data. Despite these challenges, prices remain near $100 per barrel due to expectations for diplomatic resolution.

By Jake Conley · Breaking Business News Reporter Fri, May 29, 2026 at 1:00 PM GMT+3 5 min read · Yahoo Finance · May 29, 2026, 10:00 UTC

Tickers: $JPM

Topics: energy prices global supply chain Hormuz Strait disruption oil market

Read the full article at Yahoo Finance

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