A Much Bigger Oil Shock Looms: Inventories Plunge as Geopolitical Reality Bites

The global oil market is hurtling toward a reckoning. For months, futures prices have lingered below $100 per barrel, buoyed by hopes of a swift U.S.-Iran deal to reopen the Strait of Hormuz. Yet behind the optimistic headlines, physical realities tell a far more alarming story. Leading executives from the supermajors are sounding the alarm: inventories…