Oil market faces major supply disruption and falling demand amid Iran-US war

4 articles · Updated · Reuters · Apr 24

Around 13 million barrels per day of crude are trapped behind the Strait of Hormuz for over 50 days, with global oil demand dropping by 4.3 million barrels per day in April.
OECD commercial crude inventories are nearing operational minimums, while Asian countries experience rationing and fuel shortages; the Philippines declared a national energy emergency and India halted commercial LPG supplies.
Brent crude prices have risen nearly 20% in a week, but remain below 2008 levels. As reserves deplete, Europe could soon face shortages, and investors may need to reassess the oil market’s stability.

Are strategic reserves enough to prevent a global recession from this oil shock?

Why are oil prices not skyrocketing despite the worst supply shock in history?

How will the Hormuz crisis disrupt your daily life beyond the gas pump?

When will dwindling jet fuel reserves start grounding flights across Europe?

How is the oil blockade secretly crippling Asia's medical device industry?

With fertilizer shipments blocked, is a global food catastrophe now inevitable?