Energy

Hormuz closure squeezes global economy as oil demand destruction intensifies, IEA says - CNBC

Source: CNBC

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DW NOTE

The IEA is now acknowledging demand destruction in oil markets — meaning prices have climbed high enough that buyers are simply using less. When a cartel-administered commodity hits the demand destruction threshold, it means rationing by price is already underway. WTI is at $83, down 25% from yearly peaks, yet still high enough that consumption is falling rather than adjusting. That's the definition of a supply shock the economy cannot afford to absorb.

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Hedge Funds Pile Into Fuels as U.S. Supply Squeeze Deepens

For the first four months of the war between the United States and Israel and Iran, oil traders remained largely bearish. The overwhelming expectation was that the war would end soon—even as July rolled around—and oil flows out of Hormuz would recover. Instead, the world is slipping into a fuel shor

Hormuz closure squeezes global economy as oil demand destruction intensifies, IEA says - CNBC

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Hedge Funds Pile Into Fuels as U.S. Supply Squeeze Deepens

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