Disruptions in the Strait of Hormuz are pushing global inventories toward operational ‘stress’ and ‘floor’ levels, the outlet has reported.
Global oil inventories are shrinking at the fastest pace on record amid continuing disruptions in the Strait of Hormuz, Bloomberg has reported.
The outlet cited data from Morgan Stanley on Saturday showing that global oil stockpiles fell by about 4.8 million barrels per day between March 1 and April 25. The figure surpasses previous inventory drawdown records tracked by the International Energy Agency, it added.
The Strait of Hormuz off Iran’s coast normally carries about one-fifth of the global oil and LNG trade. Tanker traffic through the waterway has remained heavily disrupted following the US-Israeli military campaign against Iran and repeated accusations by both sides of violating a fragile ceasefire.
On Friday, US President Donald Trump warned that Washington may revive and expand “Project Freedom,” a naval operation in the Strait of Hormuz, if a peace deal is not reached with Iran. US Secretary of State Marco Rubio warned that military options remain on the table if diplomacy fails.
If disruptions continue, commercial oil inventories could fall to “operational stress levels” by June and reach “operational floor” levels by September – meaning stockpiles would approach the minimum volumes needed to keep pipelines, export terminals, and refineries functioning efficiently, Bloomberg wrote.
The US, which has increased crude and fuel exports to offset global supply disruptions, has also been drawing down its domestic inventories, Bloomberg noted. According to Energy Information Administration data, US fuel stockpiles recently fell to 11% below the five-year seasonal average. Despite President Trump’s claims that the US “doesn’t need” the Strait of Hormuz, the country still imports some crude oil from Persian Gulf producers.
The disruption of Gulf oil flows has reinforced the importance of Russian energy supplies despite a push by the EU to phase out imports of fossil fuels from the sanctioned country. According to media reports, Brussels has delayed plans for a permanent ban on Russian oil amid concerns that removing more crude from the market could tighten fuel supplies and push energy prices higher across the bloc.
Image credit: Jan van der Wolf
Read the below & get prepped…!
https://halturnerradioshow.com/index.php/component/content/article/eight-weeks-to-empty-shelves-sixty-days-to-famine-what-caused-it-and-what-you-need-to-do-immediately?catid=17&Itemid=101
Also found a petition online to reopen Marsden Point, around the second page of the Parliamentary Petitions website…as well as a Petition to stop sending our tax money to israel and Ukraine!
& now, we have ‘Hantagate’ or aka ‘Hantascam’ so that Covid Lockdowns can resume.
What is planned?
Another Scamdemic!
Plus-
https://www.youtube.com/watch?v=8Qsw559dKCs
https://www.youtube.com/watch?v=vtTKOtJ5ABc
https://rumble.com/v6uj0oj-the-agenda-their-vision-your-future-2025-full-documentary-4k.html
DO NOT COMPLY WITH THEIR ZIONIST-BASED SHIT SHOW!!!
I signed the petition, so did my partner.
The first one closed with 2 signatures. Yes that’s right: TWO.
Whereas a petition to expel the Ambassador of Iran received 85,197 and has been referred to the minister.
NZ and Australia receive 80% of their petrol, diesel, and jet fuel from major Asian refining hubs, predominantly South Korea, Singapore, and Malaysia which, via a range of mechanisms and commercial slight of hand, bypass the sanctions and feed our economies with critical energy.
Approximately 55% to 59% of the collective crude oil intake for Australia and New Zealand’s top Asian fuel refiners transits through or originates from the Persian Gulf
Yet we would rather expel the Iranian Ambassador than rebuild Marsden Point?
Further proof, as if it was ever needed, that Western democracies are idiocracies in drag.
*
Petition of Capt. Wm. Stafford: Re-open the Marsden Point petroleum refinery
https://petitions.parliament.nz/23a3fbae-eda3-467d-0244-08dea0c20f4d?lang=en
Note: there is a problem with signatories being added. They are added, but there is a significant delay.
Well fancy that. Just when the IPCC ‘doomsday climate modelling’ is outed for lies, another scenario pops up to make the middle income stress and panic.
The British Colonial model of continuous war, green agenda and maritime commerce hegemony is at work again.
It is a war between the City of London Central Banks continuing to wrought upon the people through threat to energy, versus Trumps Non-Colonial Expansionist Empire; a direct threat to the globalist.British model.
And we’re in the middle of it.
Yep, not many know what’s really going on.
This prolonged state of uncertainty will further drain the USA’s oil reserves and will continue until the war the USA started is brought to logical conclusions. The USA can neither enter a full-scale war nor stabilize the current state of semi-suspended so-called “ceasefire” in its favour. As a result, it remains stuck somewhere between war and ceasefire — unwilling to retreat far enough to acknowledge failure, yet unable to advance decisively enough to settle the battlefield. While the morons linger in Washington, their oil reserves deplete. Aren’t these yanks really really clever?
Trump has been playing nice, at some point he’ll get tired and not be nice.
Lol what rubbish… global oil reserves are bigger than ever!