Dwindling fuel reserves leave energy markets exposed to renewed Middle East shocks: IMF - S&P Global
Dwindling fuel reserves leave energy markets exposed to renewed Middle East shocks: IMF - S&P Global
Source: S&P Global
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DW NOTE
The IMF warns that commercial fuel inventories have fallen to multi-year lows just as the Strait of Hormuz sits at near-standstill and Ukraine strikes Russian refineries. Strategic reserves were already drawn down to stabilise prices after the initial crisis — there is no second cushion. Markets have repriced oil 22% lower from its annual high despite the largest supply disruption in history still unfolding. That is not calm, that is the interval before reality catches the futures curve.