Oil Market Faces Critical Supply Crunch as Strait of Hormuz Closure Extends
The global oil market is approaching operational limits as the Strait of Hormuz remains largely blocked, with investment analysts warning that crude prices could reach new highs within months. International Energy Agency data shows the market has lost approximately 1 billion barrels since disruptions began in late February, while current daily shortfalls total 14 million barrels. Diplomatic efforts remain uncertain, leaving the market dependent on inventory reserves that are rapidly depleting to…
