The Billion-Barrel Hormuz Oil Shock Is About to Crash Demand
View original at finance.yahoo.comThe Billion-Barrel Hormuz Oil Shock Is About to Crash Demand (Bloomberg) -- The Strait of Hormuz oil shock has yet to crash demand as the rich world borrows from its stocks and pays up to secure supply…
What we drew from this source
The claims Via News extracted from this document. We point to the source; we don't replace it.
The longer Hormuz doesn't reopen, the more consumption must recalibrate lower, either through prices people can't afford or government intervention to force consumption down
60% confidenceA billion barrels of oil supply loss is already all-but guaranteed — more than double the emergency inventories released by governments after the conflict began
60% confidenceGlobal oil demand is on track to slump the most in five years this month
60% confidenceDemand destruction is happening in non-visible pricing centers and is at a critical inflection point; the adjustment must grow larger and larger if the Hormuz closure continues
60% confidenceAnalysts are warning of weakness in consumption of gasoline and diesel following US pump prices reaching $4 per gallon
60% confidence